IRIS Instant Payments: A New Era for Greek Businesses

As of November 1, 2025, all businesses in Greece, both physical shops and e-shops, will be required to accept IRIS instant payments for free with no commission.

What Is IRIS and Why Does It Matter?
IRIS, the national Instant Payment platform in Greece is run by the interbank clearing system DIAS. It enables:

• Free and immediate payments for customers, no fees, easy transfers from account to merchant.
• Reduced transaction costs for companies compared to usual card payments.

The system is already in extensive use:

• 565,000 freelancers make use of IRIS, completing over 500,000 transactions this year alone (compared to 100,000 last year).
• In the first four months of 2025, IRIS processed 27 million transactions, totaling approximately €2.6 billion.

Strategic Goals and Benefits This policy move aims to:

• Modernize Greece’s payment infrastructure, making it simpler, quicker, and more transparent.
• Reduce banking and card transaction fees, providing greater freedom for consumers and enterprises.
• Support businesses and citizens alike by strengthening fiscal transparency and actively combating tax evasion.

With the upcoming changes, businesses just need to upgrade existing POS software to incorporate IRIS; no complete replacements are required.

What Businesses Need to Know

• Mandatory starting Nov 1, 2025: All commercial entities must accept IRIS payments.
• Easy setup: Integration via POS upgrade, registering a professional account linked to AADE’s registry is required.
• Daily transaction limits may be updated to €1,000 total - €500 for P2P and €500 for P2B transactions.
• Enforcement and oversight: Regulatory checks through POS and AADE, with penalties for non-compliance.

With this initiative, Greece takes another bold step toward a digitally empowered economy, one that is fair, seamless, and modern. Lighthouse will continue to monitor and support businesses navigating this transition.

Source: minfin.gov.gr