Piraeus Bank Tokenization Service

Piraeus Bank Tokenization Service



Magento Platform
Open Source (CE)
1.8, 1.8.1, 1.9, 1.9.1, 1.9.2, 1.9.3

Tech Specifications

Current Version:
Stable Build
23 January, 2018
Extensions, Payments & Security, Payment Integration
License Type:


Tokenization payment method allows you a safe, in-checkout transaction without compromising the integrity of your payment sensitive data.

Other Extensions by MageGuide


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 Piraeus Bank A.E., is a Greek multinational financial services company with its headquarters in Athens, Greece. Headquartered in Athens, Greece, with approximately 17.1K employees in 7 countries, Piraeus Bank Group offers a full range of financial products and services to approximately 5.7M customers. Total assets of the Group amounted to €73.9B, net loans to €46.4B and customer deposits to €40.9B on June 30, 2017.

Founded in 1916, Piraeus Bank operated as a private credit institution for many decades, while it went through a state ownership for the period 1975-1991 until it was privatized in December 1991. Since then, it has rapidly grown in size and activities, representing today the leading Bank in Greece with 30% market share in terms of loans and 29% of deposits.

When a customer proceed to make an order through your e-shop by using a Credit Card or Debit Card, your Checkout interface will redirect him to the Bank Payment Platform. Then, for the order to be completed, your customer must enter his valid banking information.

This procedure that we just described, takes time, lead your customer out of your eshop, possibilities of increasing the Abandon Rate of the Cart and lowering your Conversion Rate.

With the Tokenization Piraeus Bank, a customer who  wants to pay with his Credit Card or Debit Card will fill his valid information in your Checkout interface, then the sensitive payment data will be replaced with a unique token (identifier) that cannot be reversed and send over to Pireaus Bank. Then the Bank is responsible of the validation of the process, so that the order can be completed.

*Altought the extension is free, the service is not and it requires a separate merchant account of Piraeus Bank. Refer to this link for an account & valid PCI Compliance Certificate


Business Value:

This specific integration provides a faster & more secure way of order payments within your e-shop’s checkout without saving your clients sensitive card information.

The produced token will be saved instead of the card’s valuable information and the customer is responsible for validating the saved card just by confirming the CVV2.  So when your recurring customer comes back to place a new order, he can complete the payment process easier, faster & safer, leading to a win-win situtation.

Technical Specifications:

The payment data and information are being processed, encrypted & stored directly to Piraeus Bank secure system and not in your magento e-shop or web server through their web service.


The ePOS Paycenter platform for e-commerce transactions fulfils the needs of any business, regardless of its size and area of activity. The platform supports from a few hundred to millions of transactions in order to serve your clients with speed and ease. For this reason, the largest Greek e-commerce sites have selected Piraeus Bank to serve their transactions. 

Through the ePOS Paycenter platform you can offer your clients the best possible service and flexibility because:

-They can buy from (or pay at) your e-shop 24/7, 365 days a year.

-They can use a debit, credit or prepaid Visa card, MasterCard and Maestro card of any Greek or foreign bank, as well as Diners, Discover and American Express cards, if you wish so.

-They have the option to pay in instalments (available for Greek credit cards only), while Piraeus Bank also provides the option to prepay those purchases.

Piraeus Bank A.E.


  • Easy to install & configuration 
  • Well coded & structured
  • Instalments Options 
  • Helping to decrease the abandonment Rate
  • Helping to increase the Conversion Rate
  • In-site Web Banking Transactions
  • Secure and Safe




Release Notes

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  • Compatible with Open Source (CE) : 1.8 1.8.1 1.9 1.9.1 1.9.2 1.9.3
  • Stability: Stable Build
  • Description:

    Stable Version: 0.1.0
    Tokenization Service
    Direct e-pos payment method
    Installments plan


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Q & A

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