- The daily transaction limit for IRIS will double to 1000 euros for both personal and professional payments by the end of the year.
- The agreement involves banks and DIAS, with a monthly cumulative limit of 5000 euros for personal transactions.
- Commercial transactions remain unlimited.
- IRIS is described as a national champion, with free transactions between individuals and minimal fees for professionals.
- From November 1, IRIS Payments integration into POS systems using QR Code becomes mandatory.
- The Greek IRIS system will join the European Europa Project, expanding its user base significantly.
- The initiative aims to strengthen Europe’s dominance in the payment sector, with discussions on the digital euro.
- IRIS Payments is user-friendly, requiring only the recipient’s phone number, and has 3.8 million registered users, expected to exceed 4 million soon.
- Over 565,000 professionals are registered, with immediate and free transfers between individuals and small fees for professionals.
- Transactions are secure, conducted within the mobile banking environment using biometric data.
Source: minfin.gov.gr
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
