The electronic payments framework in Greece is being significantly upgraded with the extension and mandatory use of the IRIS system. Businesses, both with physical stores and in e-commerce, must incorporate the new requirements by the end of 2025.
Decision No. A 1147/2025
Article 219 of Law 5193/2025 provides that: 5. Legal entities that are payees, in their transactions with payers acting for purposes outside their trade, business or profession, must accept payments through instant payment services.
Article 219, on extending the instant payment obligation to legal entities, applies from 1 December 2025.
What IRIS is
IRIS is Greece’s instant payments platform, allowing money to be transferred in real time, 24/7, either between individuals (P2P) or from a customer to a professional/business (P2B).
For professionals — businesses and the self-employed — it marks a new era in accepting payments: faster, with lower fees and high transparency.
The key changes – what applies from December 2025
- From 1 December 2025, all physical and online stores must accept payments through IRIS and/or through a QR code or a POS terminal connected to the IRIS system.
- Businesses must connect their POS terminals or online store to the IRIS system, by upgrading the POS and using a dynamic QR code.
- Failure to comply with the obligation to accept IRIS payments carries a fine of €1,500, as provided in article 5 of Joint Ministerial Decision 119899/2023. This fine will be imposed from 1 December 2025, i.e. the day after the provision enters into force. The fines of €10,000 and €20,000 provided for failure to connect POS terminals to IRIS (art. 63, Law 5104/2024) do not apply for the time being.
- Current IRIS transaction limits are: up to €500/day for P2P and P2B transfers. Increases to the limits are planned from 2026.
- The move to IRIS is a “tool” for strengthening tax transparency and combating tax evasion, as every transaction is recorded and immediately accepted.
What we recommend for businesses – a to-do list
- Check your POS/ERP system: whether it can connect to IRIS or needs an upgrade.
- Contact your bank/POS provider about integrating IRIS.
- Register, or confirm that your business bank account is registered, in the AADE registry.
- Brief staff at your store or e-shop on how to pay via IRIS (scanning the QR code, using the banking app, selecting “IRIS” at checkout etc.).
- Talk to your accountant/tax adviser about incorporating IRIS receipts into your current accounting/tax process and complying with the new requirements.
- Keep track of any new transaction limits or fees that will apply from 2026.
Payments through IRIS are a significant change in the digital landscape for businesses in Greece. Timely compliance with the obligations applying from 1 December 2025 will give businesses a competitive advantage, lower operating costs and better financial transparency. Conversely, failure to comply carries the risk of tax penalties and losses.
This article is for information purposes only and does not replace specialised professional advice.
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