A significant change in the field of digital payments is coming for consumers with free, instant and secure transactions.
In a meeting between the Minister of National Economy and Finance Kyriakos Pierrakakis and the CEO of Interbank Systems, Stavroula Kampouridou, the next steps were discussed so that from November 1, citizens can make direct payments, without any commission, in all physical and online stores.
During his visit to the DIAS offices, Pierrakakis was briefed about the prospects and the progress of upgrading the IRIS systems, which has a very strong impact on Greek society. Users of direct payments between friends (P2P) exceeded 3.7 million (an increase of 45% compared to April 2024), of which 272,000 activated the service in the first months of 2025.
Since the beginning of the year, 22.8 million P2P transactions have been made (an increase of 87.5%), with a value of over 1.25 billion euros. If these figures include payments to freelancers (P2B) and payments to online stores (IRIS commerce), then a total of 27 million transactions have been made since the beginning of the year amounting to 2.6 billion euros. March is a record month for all three IRIS products.
Instant payments are completely free for consumers. For businesses, they are an additional payment method, which offers significantly lower fees compared to credit cards.
27 million transactions in 4 months
The IRIS system is currently used by 565,000 freelancers, having made over 500,000 transactions since the beginning of the year. Last year, in the same period, they had made only 100,000 transactions.
The Minister of National Economy and Finance, Kyriakos Pierrakakis, stated: “Greece is changing. The digital future also concerns our financial transactions, which are becoming simple, modern, fast and secure.
The IRIS system is growing rapidly, with 27 million transactions, within the first four months of the year. Without any commission for consumers, with transparency and speed.
We are taking another step towards modernization and enhancing flexibility for citizens and businesses. From November 1, 2025, acceptance of the IRIS system will be mandatory in all commercial establishments, both physical and online. Consumers have the ability to pay for a good or service directly from their account, within seconds, with absolutely no charge. Businesses receive the money almost automatically, with a commission lower than that of banks.
In addition, the spread of direct digital payments is another tool that limits tax evasion and supports equality and tax justice.”
