All POS terminals must support IRIS starting Monday
After a brief extension, the official rollout of the low-commission payment method on all card terminals will be enforced with fines for non-compliance, ranging from €10,000 to €20,000. A 50% reduction in the fine applies to professionals operating in settlements with up to 500 residents or on islands with fewer than 3,100 inhabitants, provided these areas are not tourist destinations.
To make an IRIS payment at a physical location, consumers must open their bank’s mobile app and select the QR scanning option displayed on the home screen. They then scan the QR code shown on the POS terminal, completing the payment instantly with no additional steps. The only requirement is that the user has granted the app permission to access the camera—there is no need to open the camera manually.
IRIS currently offers three distinct services:
• P2P (Person-to-Person): Free transfers between individuals up to €500 per day (or €1,000 starting in 2026).
• IRIS P2Pro (Person-to-Professional): The upgraded version of IRIS B2B, for payments to sole proprietors and freelancers.
• IRIS Commerce: Direct account-to-account payments for both e-commerce (online shops) and physical retail locations.
“With nearly 100 million transactions in the first ten months, 4.2 million P2P users, 575,000 P2Pro users, and thousands of acceptance points, IRIS is becoming one of the most dynamic pillars of instant payments in Europe,” stated DIAS CEO Stavroula Kambouridou at the Bank Management Conference.
DIAS also plans to expand into new markets, a goal that will be pursued through the integration of the Greek payment system into the Europa Project—a European initiative launching with 10 countries and roughly 100 million users, marking a significant step toward broader European financial integration.
