July 18, 2024

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Hatzidakis: Young people pay almost exclusively with IRIS – everyone should activate it

Hatzidakis: Young people pay almost exclusively with IRIS – everyone should activate it

Minister of National Economy and Finance Kostis Hatzidakis provided us with information about the IRIS mobile transaction system and data on its deployment in the country.

According to them, 2.2 million citizens activated the IRIS service at the end of 2023, and 155,000 independents and 3.5,000 merchants/stores registered for the service, while a significant increase in transactions was recorded.

Mr. Hatzidakis also notes that freelancers will have to link their business account to the IRIS service by January 31, 2024.

Kostis Hatzidakis' post about IRIS

Have you ever heard of the IRIS system? It is a transaction system without bank fees! With mobile phone.

This system began to spread rapidly in Greece! It is beneficial for every citizen. With Direct Payment (IRIS), transactions are carried out in a very simple way, instantly within a few seconds, from the user's mobile phone, by only filling in the mobile phone or VAT number of the payment recipient. The maximum transaction is 500 EUR per day.

Figures released show the spread of IRIS:

  • By the end of 2023, 2.2 million citizens had activated the IRIS service, more than four times compared to 2020.
  • Young people in particular (18-34 years) have “adopted” this new payment method (70% of all users).
  • 155,000 independents and 3.5,000 merchants/stores have subscribed to the service. In both categories there is a significant increase compared to previous years.
  • A similar significant increase in transactions is also recorded. In particular, in transactions with professionals, the increase is 300% compared to 2022.

Recognizing the benefits of IRIS, through our law on loans and the banking system, we created an obligation for self-employed professionals to link their business account to the IRIS service by 31 January 2024 and accept direct payments from anyone who requests it. He. She. We have made a similar commitment to merchants who are already required to have a point of sale. In addition to ease of use and avoiding commissions, we believe that this initiative will also contribute to the fight against tax evasion.

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IRIS is a service everyone deserves to activate!

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