IRIS has become mandatory for all businesses, however for those that have not yet complied, the deadline given is until October 31st, Friday. Thus, if controls conducted from November 1st reveal businesses that have not connected their POS systems with the automatic payments system, they will have to pay fines that are considered heavy. Moreover, tax authority inspectors won’t even need to be activated, as the system will have the ability to immediately check compliance, identifying businesses that have not activated the function.
If a business keeps single-entry books, the fine that the tax authority will impose will amount to 10,000 euros. If, however, it has double-entry books, it will be forced to pay double. Thus, customers will be able to pay through IRIS from the first day of the last month of autumn, either with POS or by scanning QR codes, through their banking app. According to the tax authority, “transactions will be completed in real time and without fees, offering immediate collection for professionals and greater transparency in the tax system”.
Significant increase in transaction limits in 2026
Regarding transaction limits and fees, it states: “The daily payment limit through IRIS is set at 1,000 euros, while for transactions between individuals (P2P) and from individuals to professionals (P2B) the limit is 500 euros per category. Transactions between individuals are carried out without any charge, while in payments to businesses the fee is minimal — ranging from 0.2% to 0.5% and only burdens the business, unlike card charges that reach up to 2%.
From January 2026, transaction limits increase significantly:
*For IRIS P2P transactions, the daily limit rises to 1,000 euros, with a monthly maximum limit of 5,000 euros.
*For IRIS P2B transactions, the daily limit also rises to 1,000 euros, with the possibility of payments up to 31,000 euros per month.
* Connection to the European EuroPA network.
* The use of IRIS extends beyond Greek borders.
* From mid-2026, connection to the EuroPA interbank network is scheduled, which will allow money transfers abroad in real time”.
Massive European participation
Many European countries require their businesses to connect POS with IRIS — and soon. These are: Italy, Spain, Portugal, Poland, Norway, Sweden, Denmark, Finland and Andorra.
The tax authority states that “the new IRIS operating framework modernizes electronic transactions, reduces costs for businesses and strengthens the fight against tax evasion. The government seeks to establish IRIS as the main payment method in the Greek market, creating more direct and transparent transactions between citizens and businesses”.
