IRIS: Mandatory direct payment system in all businesses and interface with cash registers

After freelancers, the system of direct payments IRIS becomes mandatory for business. In the spring of 2025, all businesses should have linked their business account to IRIS to accept direct payments from their customers, while according to the planning of the financial staff in the fall of 2025 is expected to be the “marriage” of IRIS with cash registers which are already connected to POS.

Priority IRIS

The promotion of direct payments through the IRIS system is a priority for the financial staff with the Minister of National Economy and Finance Kostis Hatzidakis stating that “there are already 3.3 million IVANs connected to IRIS, a total of 6 million” and to announce that “by the spring of 2025 the use of direct payment systems such as IRIS will be expanded to cover all businesses”.

Businesses will then be asked to connect IRIS to their cash registers so that every time an instant payment is made, the receipt is also issued at the same time, as is done today with card payments after cash registers are connected to POS.

QR code

At the business cash desk there will be a QR Code with the credit details of the business’s business account, so customers scanning the code with their mobile phone will be able to complete their transactions in a few seconds. For consumers, direct payment via IRIS has no cost as long as the money transfer does not exceed 500 euros per day, while for businesses the commissions are smaller compared to POS.

Many businesses, although not obliged, have already installed the IRIS system, and accept direct payments to their account from their customers.

Cashier – POS

It is noted that since the beginning of the year, businesses that have been connected to the POS exceed 407,000. It is estimated that about 4% of businesses or almost 20,000 have not complied and will now be faced with ‘bells’. First on the list of those to be audited will be the biggest businesses because as Kostis Hatzidakis states “it is not conceivable to have the consistent ones who respect the law and the “sly ones” who want to be treated as businesses of a different category”.

The fines

Obligees found not to have connected cash registers with POS will be fined amounting to:

  • 10,000 euros, as long as they follow a simple accounting system
  • 20,000 euros, as long as they follow a double-entry bookkeeping system

These fines are halved for businesses established in settlements with a population of up to 500 inhabitants and on islands with a population of up to 3,100 inhabitants (except for tourist ones). In the event of a recurrence within five years, the fines are doubled and for each subsequent violation they are tripled.

IRIS

Also professionals who are caught after the check not having activated the IRIS direct payment system will be asked to pay a separate fine of 1,500 euros, while those who do not declare the professional account to AADE are subject to an additional fine of 1,000 euros.

Source: ot.gr