Starting November 1, 2025, all businesses in Greece must accept payments through IRIS Payments, either via POS or QR code, in both physical and online stores. This move is part of the framework for digital transparency and tax evasion reduction.
IRIS transactions are instant and commission-free for customers, while the AADE will oversee the implementation of the new system. Non-compliant businesses face fines of 10,000 to 20,000 euros, with reduced penalties for small settlements and remote islands.
IRIS Payments: Transaction limits and costs
IRIS transfers will be subject to the following daily limits:
- Person to Person (P2P): up to €500/day – free
- Person to Business (P2B): up to €500/day – low cost for professionals
- Total daily limit: €1,000
IRIS offers security, speed and complete transparency, automatically recording every transaction in business accounting systems.
POS and AADE: New era of connectivity
Every transaction through IRIS or mobile banking must be conducted via POS, connected to AADE or tax mechanisms. Payments outside POS are considered illegal, with fines of €10,000–20,000. Exceptions apply only to settlements under 500 inhabitants and islands under 3,100 inhabitants without tourism activity, where fines are reduced by half.
Implementation timeline
- November 2025: Removal of limits for payments in physical and online stores.
- January 2026: Increased limits – up to €1,000/day and €5,000/month for individuals, €31,000/month for professionals.
- Mid-2026: IRIS expansion to Italy, Spain, Portugal, Scandinavia and Poland through the EuroPA network.
The technology behind IRIS
The IRIS Payments platform, in collaboration with Greek banks (Piraeus, National, Alpha Bank, Eurobank, Viva Wallet) and based on the European TIPS system, offers:
- Instant transfers 24/7, 365 days a year
- 2-second completion time
- Automatic notification to sender and recipient
IRIS services
- IRIS P2P: Transactions between individuals up to €500/day – free
- IRIS P2B: Payments to professionals – low cost
- IRIS Commerce: E-shop payments without sharing banking details
The payment process is simple and fast
- Select IRIS at store or e-shop
- Scan QR code or choose bank
- Confirm with PIN or biometric data
- Automatic completion and app notification
