From November 1, 2025, the IRIS system enters its new phase, with mandatory POS use for all businesses – physical stores and online shops – and hefty fines for those who bypass the procedure. The regulation, which is part of the new bill for the National Customs Code, aims for faster, safer and more transparent transactions, reducing tax evasion and enhancing payment traceability. IRIS allows instant money transfers from account to account, without using cards, through each bank’s mobile banking app. Transactions are executed in real time, using QR codes or phone numbers.
Transaction limits
- Up to €500 daily for transfers between individuals (IRIS P2P)
- Up to €500 daily for payments from individuals to professionals (IRIS P2B)
- Maximum daily limit: €1,000
P2P transactions remain free, while P2B transactions apply a small commission in favor of the professional.
Strict penalties for violators
All payments through IRIS or mobile banking must be made exclusively through POS systems connected to the tax authority.
Business owners who do not comply will face:
- €10,000 fine for businesses with single-entry bookkeeping
- €20,000 fine for double-entry bookkeeping
For professionals in small settlements or non-tourist islands, a 50% discount is provided.
Integration with the European EuroPA network
It’s worth noting that IRIS usage extends beyond Greek borders.
From mid-2026, integration with the EuroPA interbank network is planned, which will enable real-time money transfers abroad.
Participating countries include Italy, Spain, Portugal, Poland, as well as Scandinavian states like Norway, Sweden, Denmark, Finland and Andorra.
The government seeks to establish IRIS as the primary payment method in the Greek market, creating direct and transparent transactions between citizens and businesses.
