payzy is becoming Magenta Pay, and COSMOTE Payments is being renamed Telekom Payments.
This is exclusively a change of name and corporate identity. The company, the service, and the way they operate remain the same.
Telekom Payments continues to operate as the same legal entity, under the same Electronic Money Institution licence issued by the Bank of Greece.
The change does not affect:
- your money and balance,
- your account and IBAN,
- your card,
- your transaction history,
- your scheduled or recurring payments.
The only action you need to take is to update the app to the latest version of Magenta Pay via the App Store or Google Play.
🔄 What is changing
The app's name and appearance
The payzy app is being renamed Magenta Pay and will feature:
- a new icon,
- Telekom's magenta colours,
- a refreshed design.
The app's features and services remain the same.
The company's name
The company COSMOTE Payments – Electronic Money Services Single-Member S.A. is being renamed Telekom Payments.
It remains the same legal entity and continues to operate under the same Electronic Money Institution licence issued by the Bank of Greece.
The card's appearance
New cards will now be issued with the new Magenta Pay design, in magenta colour and featuring Telekom's "T" symbol.
Your existing card will continue to work normally. You do not need to replace it.
Customer Support name
Customer Support is now called Magenta Pay Support.
The available communication channels remain the same.
Websites and official documents
Websites, terms and conditions, updates, and official documents will gradually be updated to reflect the names Magenta Pay and Telekom Payments.
✅ What is not changing
The change of name and corporate identity does not affect your account or transactions.
Specifically:
- Your IBAN and account details remain exactly the same.
- Your card number, expiry date, and PIN do not change.
- Your available balance and complete transaction history remain unchanged.
- Your scheduled and recurring payments will continue as normal.
- Subscriptions and cards you have saved with services and online stores, such as Netflix, Disney+, or Apple iCloud, will continue to work without requiring you to enter your card details again.
- Your card will continue to work with Apple Wallet, Google Wallet, and Garmin devices without any action on your part.
- There are no additional charges or changes to pricing as a result of the rebranding.
- The operating licence and the way customers' funds are protected remain exactly the same.
💡 Why is this change happening?
payzy is becoming Magenta Pay as part of its alignment with the Deutsche Telekom family: one unified commercial identity, with the same trusted service.
Similarly, the renaming of COSMOTE Payments to Telekom Payments reflects the same alignment at a corporate level.
The way the company operates or is supervised is not changing, nor is the way your money is protected.
💳 Your card
Do I need a new card?
No. Your existing card will continue to work normally:
- in physical stores,
- for online purchases,
- at ATMs,
- with Apple Wallet,
- with Google Wallet,
- with Garmin devices.
Your card number, expiry date, and PIN remain the same.
How can I display the new card design in my digital wallet?
Changing the appearance of your card in your digital wallet is optional.
If you do not take any action, your card will continue to work normally with the previous payzy design.
To display the new Magenta Pay design in Apple Wallet or Google Wallet:
- Open Apple Wallet or Google Wallet.
- Select your payzy card.
- Remove the card from your digital wallet.
- Add it again through the Magenta Pay app or manually.
After adding the card again, it will appear with the new Magenta Pay design.
The same process applies to Garmin devices through the Garmin Connect app.
Removing and adding your card again to your digital wallet does not change your card number and does not affect the cards you have saved on websites or subscription services.