Direct payment services can prove to be a very useful solution both for citizens to pay no fees for online transactions and for freelancers to pay an average of 50% lower fees than alternative methods. The only available direct payment service to date, IRIS, is spreading rapidly as a payment method in Greece, according to a related announcement. The Minister of National Economy and Finance, Kostis Hatzidakis, was informed about the significant progress that has been made so far, during his visit to the company Interbank Systems (DIAS) S.A., which offers the IRIS service.
According to February 2024 data:
– In total, 2.4 million individuals have activated IRIS, of which 70% are 18-34 years old.
– 250 thousand freelancers have already activated the service.
– 30 times more transactions took place in January 2024, compared to January 2021, both between individuals and in transactions with professionals.
– More specifically, in January 2024, there were 3 million transactions between individuals and 25 thousand with professionals.
– On an annual basis, transactions triple between individuals and tenfold with professionals.
THE Kostis Hatzidakisafter the visit, stated: “The popularity of instant payment services such as IRIS is no accident at all! It is the most beneficial payment tool for both citizens and professionals. For citizens, because they pay no commissions on their transactions. And for professionals, because they leave much less money out of their pocket for supplies, compared to other methods. That is, regardless of their obligation to activate the service, it is undoubtedly in their best interest! A simple search is enough even for the most skeptical. Therefore, those who try to make black and white are already refuted by the massive spread of direct payments. And they will certainly continue to be refuted. Because they cover the citizens’ need for transactions with ease and without fees!”.
THE General Secretary of the Financial Sector and Private Debt Management, Theoni Alambasis, made the following statement: “The IRIS service responds to the modern banking era, offering an easy, immediate and extremely low-cost payment option for the debtor. Both service activation and day-to-day transactions are carried out from the mobile phone, offering a real innovation in payments.”
The CEO of DIAS SA, Stavroula Kambouridou, the Deputy Governor of the Bank of Greece and President of DIAS SA, Christina Papakonstantinou, participated in the meeting. After the meeting, the Minister of National Economy and Finance, Kostis Hatzidakis, followed a short tour of the company’s data center.
The Ministry of National Economy and Finance notes that in order for other self-employed and self-employed persons to be informed and connected compulsorily, as provided by law, with systems such as IRIS, June 30, 2024 is defined as the deadline (the date must not in no case to be confused with the dates, which are already valid for the interface of POS with cash registers). A total of 850 thousand freelancers and self-employed women have the relevant obligation.
It is recalled that Law 5072/2023 established the obligation of freelancers and the self-employed to link their professional account to a direct payment system. As well as accepting immediate payment from any natural person who requests it. Also, natural persons dealing with another natural person providing services (freelancer or self-employed) are entitled to request that payment be made through a direct payment system. Non-acceptance of direct payments, after the end of the deadline, by freelancers and the self-employed results in an administrative fine of 1,500 euros.
Activation of the service, whether for individuals or professionals, is done through their Bank’s mobile app, with a very simple process. Payments are made only with the recipient’s mobile phone number or QR Code scan, via the Bank’s mobile app. The confirmation of transactions requires the use of biometric data (facial or fingerprint) and confirmation of the recipient’s name before sending. The money is credited within 2 seconds to the recipient, who is immediately informed of the money transfer, as well as the sender’s details.
The IRIS service is already provided by 8 banks (Alpha, Ethniki, Eurobank, Piraeus, Epirus Cooperative, Viva, Optima, Attica) and is soon expected to be extended to Karditsa Cooperative and Pankritia.
IRIS has 3 services:
moneyreview.gr
Follow Money Review on Google News