payzy becomes Magenta Pay, and COSMOTE Payments is renamed Telekom Payments.
This is exclusively a change of the company name and brand appearance. The company, the service, and its functionality remain unchanged.
Telekom Payments remains the same legal entity and continues to hold the same authorization as an electronic money institution from the Bank of Greece.
The following points are not affected by the change:
This is exclusively a change of the company name and brand appearance. The company, the service, and its functionality remain unchanged.
Telekom Payments remains the same legal entity and continues to hold the same authorization as an electronic money institution from the Bank of Greece.
The following points are not affected by the change:
- Your balance and your account balance,
- Your account and your IBAN,
- Your card,
- Your transaction history,
- Your scheduled or recurring payments.
You only need to update the app to the latest version of Magenta Pay via the App Store or Google Play.
What changes?
Name and appearance of the app
The payzy app will be renamed Magenta Pay and will receive:
What changes?Name and appearance of the app
The payzy app will be renamed Magenta Pay and will receive:
- a new app icon,
- the Telekom Magenta colours,
- a new design.
The functions and services of the app remain unchanged.
Company name
The company COSMOTE Payments – Electronic Money Services Sole Proprietorship AG will be renamed Telekom Payments.
It remains the same legal entity and continues to hold the same authorization as an electronic money institution from the Bank of Greece.
Appearance of the card
New cards will be issued in the future with the new Magenta Pay design – in Magenta and with the Telekom "T" logo.
Your existing card will continue to work as usual. No replacement is required.
Customer service
Customer service will now be called Magenta Pay Support.
The available communication channels remain unchanged.
Websites and official documents
Websites, General Terms and Conditions (GTC), notices, and official documents will be gradually updated to the names Magenta Pay and Telekom Payments.
What does not change?
The change of company name and brand appearance has no impact on your account or your transactions.
Specifically:
Company name
The company COSMOTE Payments – Electronic Money Services Sole Proprietorship AG will be renamed Telekom Payments.
It remains the same legal entity and continues to hold the same authorization as an electronic money institution from the Bank of Greece.
Appearance of the card
New cards will be issued in the future with the new Magenta Pay design – in Magenta and with the Telekom "T" logo.
Your existing card will continue to work as usual. No replacement is required.
Customer service
Customer service will now be called Magenta Pay Support.
The available communication channels remain unchanged.
Websites and official documents
Websites, General Terms and Conditions (GTC), notices, and official documents will be gradually updated to the names Magenta Pay and Telekom Payments.
What does not change?The change of company name and brand appearance has no impact on your account or your transactions.
Specifically:
- Your IBAN and your account details remain unchanged.
- Your card number, expiry date, and PIN remain unchanged.
- Your available balance as well as your complete transaction history remain unchanged.
- Scheduled and recurring payments will be processed as usual.
- Your subscriptions and the card stored with services and online shops (e.g., Netflix, Disney+, or Apple iCloud) will continue to work without you having to re-enter your card details.
- Your card will continue to work in Apple Wallet, Google Wallet, and on Garmin devices without you needing to take any action.
- No fees arise from the rebranding and there are no changes to pricing.
- The authorization as an electronic money institution and the protection of customer funds remain unchanged.
Why is this change happening?Payzy is being renamed Magenta Pay as part of aligning with the Deutsche Telekom brand family. The goal is a unified brand identity with consistently reliable service.
The renaming of COSMOTE Payments to Telekom Payments also reflects this alignment at the corporate level.
The company's operation, its supervision, and the protection of your funds remain unchanged.
Your cardDo I need a new card?
No. Your existing card will continue to work without restrictions:
- in physical stores,
- for online purchases,
- at ATMs,
- in Apple Wallet,
- in Google Wallet,
- on Garmin devices.
Your card number, expiry date, and PIN remain unchanged.
How can I display the new card design in my digital wallet?
Updating the card design in your digital wallet is optional.
If you do nothing, your card will continue to work as usual with the previous payzy design.
To display the new Magenta Pay design in Apple Wallet or Google Wallet:
How can I display the new card design in my digital wallet?
Updating the card design in your digital wallet is optional.
If you do nothing, your card will continue to work as usual 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.
- Then add the card again via the Magenta Pay app or manually.
After re-adding, your card will be displayed in the new Magenta Pay design.
The same procedure applies for Garmin devices via the Garmin Connect app.
Removing and re-adding the card to your digital wallet neither changes the card number nor affects cards stored on websites or in subscription services.
The same procedure applies for Garmin devices via the Garmin Connect app.
Removing and re-adding the card to your digital wallet neither changes the card number nor affects cards stored on websites or in subscription services.