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Eurobank Enables Real-Time Remittances to India
Eurobank is now facilitating near real-time, low-cost money transfers from Greece to India through its newly launched UPI-based remittance service. This platform allows Indian expatriates holding accounts with Eurobank in Greece to send funds back home efficiently.
The service stems from a Memorandum of Understanding signed earlier this year between NPCI International Payments Limited and Eurobank. The agreement focuses on enabling interoperability for cross-border payments using the Unified Payments Interface (UPI) infrastructure, operated by the National Payments Corporation of India.
Integration Enhances Cross-Border Flows
Eurobank integrated its internal banking network with NPCI's payment infrastructure to streamline remittance flows from Greece to India. The bank stated that transaction charges will be kept minimal, primarily covering operational expenses.
Stavros Ioannou, deputy chief executive officer and group chief operating officer at Eurobank, highlighted the platform's design for faster and more efficient remittances for Indian customers. The facility currently supports inward transfers to India for Eurobank account holders.
New Office to Boost India Ties
In a separate development, Eurobank plans to open its first representative office in India. This initiative is set to coincide with the visit of Cyprus President Nikos Christodoulides to Mumbai. The office will focus on fostering cross-border transactions and exploring business opportunities among India, Greece, and Cyprus.
Rohit Mahajan, Founder & CEO of plutos ONE, noted that India's digital payments ecosystem is expanding globally, driven by UPI's growth. He observed that these cross-border integrations signal increasing international acceptance of Indian payment systems, which saw 22.35 billion UPI transactions in April 2026.