Newsflash from Tuesday, 21 October 2025: From November 1, 2025, all businesses in Greece must accept IRIS payments. Learn what changes, who’s affected, and how to comply.
Starting November 1, 2025, Greece officially enters a new era of digital transactions — all businesses, both physical and online, will be required to accept payments via the IRIS system.
According to the latest directive from the Independent Authority for Public Revenue (AADE), every store equipped with a POS terminal must now support IRIS payments, either through a QR code or direct integration with their POS system. This move aims to simplify transactions, boost transparency, and reduce reliance on traditional card networks.
What This Means for Businesses
From November onward, all merchants — from small shops to large corporations — must ensure their POS systems are connected either to a fiscal mechanism (FIM) or directly linked to AADE’s information systems.
Failure to comply will result in hefty fines:
– €10,000 for businesses with simplified accounting books.
– €20,000 for businesses with double-entry accounting books.
– A 50% reduction in fines applies to small businesses in villages with fewer than 500 residents or islands with fewer than 3,100 residents.
Additionally, companies offering POS, ERP, or fiscal software that fail to update or integrate with the IRIS network risk license revocation and suspension of technical operations.
⚡ Why IRIS Matters
IRIS payments are instant, secure, and free of charge for consumers. They allow direct transfers between bank accounts in real time — no intermediaries, no hidden fees.
Currently, over 4 million citizens and 560,000 professionals already use IRIS, with more than 8,800 businesses integrated into the IRIS Commerce platform.
From January 2026, transfer limits will increase:
– P2P (person-to-person): up to €1,000 per day and €5,000 per month.
– P2B (person-to-business): up to €31,000 per month.
By mid-2026, IRIS will expand across Europe through the EuroPA network, enabling cross-border instant payments in countries like Italy, Spain, Portugal, and the Nordic nations.
The Bottom Line
This landmark decision marks a significant step toward a cashless, transparent, and efficient digital economy. Businesses should act quickly to ensure their systems are compliant before the November 1 deadline — or risk steep penalties.
Sources:
– Creta Times – IRIS payments mandatory across Greece
– eKathimerini – All shops must get IRIS-ready
– Naftemporiki – Direct payments without commission
