The IRIS system is expected to be made mandatory as of March or April in the entire market, according to the Minister of National Economy and Finance Kostis Hatzidakis.
So far there is an obligation for freelancers to accept payments through the specific process, which ensures zero commissions up to 500 euros to the traders. Next step is the universal application of IRIS so that all businesses, all professionals can accept the specific payments. This specific move is expected to be directly linked to the implementation of the European regulation from 2025, when the status of direct payments changes on two levels: the charges and the mandatory availability of the instant payments service.
From January 2025 every credit transfer transaction from one bank to another, whether simple or direct, will have the same charge and this applies to all banks in the eurozone. Also, European banks will be obliged to accept instant payments as a direct credit to the beneficiary’s account.
However, according to the European regulation, Greece and the rest of the banks should be ready by the end of October 2025. From November 2025, Greek banks must be able to simultaneously satisfy requests to send money to banks abroad, also by direct order.
Meanwhile, users reached 3.2 million, recording a 61% increase compared to 2023. Given that about 6 million citizens have web banking, approximately 1 in 2 citizens today use the service.
On a daily basis since the beginning of the year, more than 3,454 million citizens have registered.
