POS: Expands usage to 35 business operations

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In the context of the implementation of the measures taken by the government with the aim of effectively cracking down on tax evasion and the elimination of underground economy practices, the Minister of Development Mr. Kostas Skrekas and the Deputy Minister of National Economy and Finance Mr. Haris Theoharis co-signed the Joint Ministerial Decision (JMA), which provides overhaul of previous arrangements for the acceptance of card means of payment (POS), as well as other modern payment methods.

Which cardholders are required to have a POS

Specifically, according to the new KYA the obligation to accept payment by card (debit or credit) is extended to an additional 35 (KAD) branches of the Greek economy.

Also, professionals in all sectors retail and services to consumers, from 1.1.2024 onwards they will be obliged to accept both POS card payments (debit and credit), as well as direct payment services by transferring money between bank accounts, such as the IRIS service onlinepayments.

The MOA is immediately applicable for the expansion of the use of electronic means of payment throughout the market. Also, with regard to sanctions in cases of non-compliance, the decision stipulates that for the time period from 01.02.2024 to 01.03.2024 the imposition of a fine on new debtors is exceptionally suspended, as long as it is proven that card acceptance terminals (POS) have been procured up to 31.01.2024 and are waiting for its installation in their business.

Finally, it should be noted that the following are excluded from the beneficiaries of payment by electronic means under the KYA:

  • a) visually impaired persons with a certified disability rate of 80% or more
  • b) vending machines until 31.12.2024