The government is postponing the mandatory implementation of the IRIS payment system by one month, giving relief to thousands of businesses that had been racing against time to meet deadlines. Through a provision incorporated into the tax bill submitted to Parliament, the universal implementation of IRIS is moved to December 1st, instead of November 1st.
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IRIS “frozen” for one month by decision of the Ministry of National Economy and Finance
According to the Ministry of National Economy and Finance, the decision was made to “provide adjustment time for stakeholders and ensure smooth and effective implementation of the measure.” From that date onwards, all market businesses will be required to accept payments through IRIS, alongside other card transaction options. Payments will be processed through POS systems, which must be connected to the tax authority’s systems. For those who fail to comply, hefty fines are imposed: 10,000 euros for businesses with single-entry bookkeeping and 20,000 euros for those maintaining double-entry books.
The extension decision came after numerous requests from professional associations and chambers that warned the market wasn’t ready. The president of the Athens Chamber of Commerce and Industry, Yannis Chatzitheodosiou, stated that “accountants and technical professionals warn the system isn’t ready yet, mainly due to pending issues with banking platforms,” adding that “businesses cannot be penalized for something beyond their control.” He also requested a “reasonable extension to avoid another wave of market disruption.”
Similarly, the Thessaloniki Chamber of Crafts sent a letter to the Finance Ministry and tax authorities emphasizing that “the market isn’t ready yet” and many businesses “will face fines through no fault of their own.” The chamber’s president, Marios Papadopoulos, spoke of the need for a “smooth transition period.” The Athens Bakers’ Association also expresses similar concerns, requesting additional adjustment time due to “increased operational and energy pressures.” “Our sector needs time to adapt to new digital requirements,” the association noted in a statement.
The economic burden of transition
Beyond technical issues, professionals highlight the economic burden of transition. The cost of upgrading POS systems and software is estimated between 500 to 1,500 euros per business, an amount many small professionals consider prohibitive. “The state must support digital transition with financing tools, as it did with POS systems,” notes Chatzitheodosiou.
IRIS, already used by 4 million citizens and 560,000 professionals, is considered crucial for transitioning to a digital economy. Transaction limits currently remain at 500 euros for money transfers between individuals (IRIS P2P) and the same amount for payments from individuals to businesses (IRIS P2B), with a total daily cap of 1,000 euros. From January 2026, limits will increase to 1,000 euros daily and 5,000 euros monthly for individuals, while for businesses they will reach up to 31,000 euros monthly.
