IRIS: Extension of Compulsory Registration in Payment System – Economic Postman

Minister of National Economy and Finance Kostis Hatsitakis announced the extension of the deadline for the registration of millions of freelancers in the IRIS payment system.

From the floor of the annual meeting of the Hellenic Banking Association, Mr. Hatsitakis announced a “minor extension” of the link to the IRIS system, though did not reveal an exact timeframe. He noted that borrowers affected by this move will have a special update from AADE in the next period.

Note that the deadline is June 30.

IRIS: To increase payment range

Those who do not log into IRIS on time will be fined 1,500 euros, while those who do not register a business account will be asked to pay a fine of 1,000 euros.

Expansion of IRIS

The finance ministry plans to gradually expand IRIS to all businesses by March 2025.

Freelancers and self-employed are obliged to accept cardless direct payments by transferring funds directly to the beneficiary’s account.

With the IRIS service on mobile banking, professionals collect loans from their customers within seconds, who pay by knowing only the professional’s mobile phone number or VAT number, without knowing their IVAN.

In fact, to further facilitate the customer, a professional mobile number or VAT number can be provided in the form of a QR code to scan.

Restrictions

As regards creditors and control procedure, the current legislative regime provides for the following:

  • Payers accept payment card payment instruments and payment instruments with direct account-to-account payment services such as IRIS Online Payment Service as long as they provide services to customers or operate with Activity Code Numbers (ACNs) included in the relevant list. Blind persons with 80% or more disabilities and automatic product vending machines (vending machines) are excluded till 31.12.2024.
  • Competent authorities to implement controls are defined by the Interactive Market Control Unit (DMEA) of the Ministry of Development and the competent control services of the country’s regions.
  • The Secretariat of Tax Policy and the services of the Independent Public Revenue Authority (AADE), in the context of the audit, based on their responsibilities, if they establish the violation and send the appropriate audit report to the appropriate authorities, the certification of violations and the imposition of penalties.
  • Competent officers set up control positions with at least two personnel.
  • Payees electronically declare one or more business accounts on the AADE website (www.aade.gr)
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