As of November 1, 2025, the status of electronic transactions change for the business in Greece as they will be obliged to accept payments through IRIS.
All businesses must necessarily accept IRIS payments, either by POS or by QR code, which the customer can scan with its banking application. Transactions will be completed in real time and without supplies to users, while the Independent Public Revenue Authority (AADE) will control business compliance.
IRIS allows for direct accounts of Account-To-CCount in real-time, while providing transparency and tax compliance. This new measure aims at faster, secure and financial transactions, but also in better tax transparency.
The money transfers through the system are shaped as follows:
- Up to 500 euros daily for transfers between individuals (IRIS P2P).
- Up to 500 euros daily for private payments to professionals (IRIS P2B).
- Total maximum amount per day: 1,000 euros.
It is noted that the Transfers via P2P are provided free of charge for sender, while for them P2B Payments Valid Community Applies to Professional. P2B transactions are now mandatory to handle through POSon the basis of legislation providing for heavy fines for offenders.
According to the new legislative framework, any IRIS type payments must be handled through a POS terminal, which is connected either to a tax mechanism or to the AADE systems. Any other payment method is considered irregular and brings heavy fines.
The arrangement concerns thousands of professionals, stores, retailers and catering businesses, which have so far received immediate money transfer without tax documentation via POS.
Fines for non -compliance are:
- 10,000 euros For businesses with simplistic books.
- 20,000 euros For businesses with duplicate books.
However, 50% of fines are reduced by businessmen operating in small settlements or islands with less than 3,100 inhabitants, except for tourist areas.