2024-05-16 12:10:26
The duty for all companies to supply their clients the chance to pay immediately from their account by means of direct fee till the top of March 2025 was introduced yesterday by the Minister of Nationwide Economic system and Finance talking on the Funds 360 convention organized by DIAS. The related obligation has up to now been imposed on freelancers and the self-employed, who should have linked their enterprise account to IRIS by the top of June this 12 months, in order that they’ll settle for funds for the providers they supply.
From the stage of the convention, Kostis Hatzidakis referred to as on freelancers and the self-employed “to not delay”, whereas he addressed an identical exhortation to the banks, calling on them “to tell their clients about the advantages of direct funds, which along with pace and comfort additionally they guarantee cheaper provides”. “Those that complain about financial institution commissions ought to know that IRIS exists,” underlined Kostis Hatzidakis. By way of IRIS, pure individuals can switch as much as 500 euros per day without spending a dime and freelancers can settle for funds with low fee prices near 0.5%.
The fantastic for freelancers and self-employed individuals who won’t present the service is €1,500 – much like the fantastic offered by legislation for not putting in a POS. “We’ve got confirmed that we imply what we are saying”, emphasised Mr. Hatzidakis, referring to the fantastic offered for individuals who don’t adapt, since, based mostly on the info offered by the accountable minister, to this point just one third of the self-employed and freelancers – round 280,000 out of a complete of round 900,000 – have linked to IRIS.
Though 150,000 customers in 2023 have added one other 125,000 (a rise of round 80%), the variety of these linked continues to be removed from the goal, at a time when immediate funds are experiencing a leap in person-to-person P2P transactions ), with registered IRIS customers now exceeding 2.6 million, of which over 405,000 have signed up since January. This is a rise of round 18.5% in 4 months, whereas by way of funds from pure individuals to companies from the start of 2024 till April there have been 111,000 IRIS Individual to Enterprise transactions, in comparison with simply 11,000 final 12 months, i.e. elevated tenfold.
The fantastic for freelancers and self-employed individuals who won’t present the service quantities to 1,500 euros.
Mr. Hatzidakis introduced the growth of direct funds for all companies by March 2025. “The following step for us is the growth of direct funds throughout your entire spectrum of transactions: each in digital commerce (e-commerce) and in bodily commerce (retailer). That’s, now in all companies. That is the subsequent massive problem. And on this context, the federal government and the ministry will make each effort so that every one events concerned (the banks, the DIAS direct fee system and AADE) coordinate and make the mandatory technical changes, with the purpose of guaranteeing that there will likely be the potential of direct funds in transactions with all sorts of companies”, the minister emphasised.
The initiative is a part of the difference to our nation of the brand new EU regulation. which forces banks to supply immediate funds. As defined by the deputy director of the Financial institution of Greece Giorgos Korfiatis talking on the identical convention, the regulation makes the availability of direct credit score transfers obligatory with a horizon of January 2025 and, alternatively, regulates pricing, in order that direct funds will not be priced costlier than easy cash transfers between accounts. Lastly, it imposes procedures for verifying the title of the beneficiary of the fee (IBAN title examine), enhancing safety and effectivity. “If we fail to fulfill the demand for revolutionary funds, different gamers will fill that hole,” Mr. Korfiatis identified, citing massive tech firms taking a much bigger function and stake in offering options.
Account to Account (A2A) funds are a dominant medium in markets resembling India and Brazil and far much less so in Europe. In line with The International Funds Report 2024 research, the A2A technique represented 18% of the worth of e-commerce transactions in Europe in 2023, in comparison with 17% of bank cards, 13% of debit playing cards and 30% of e-wallets, which dominate relative to different strategies. Nonetheless, they’re prevalent in mature European digital markets resembling Finland, the Netherlands, Norway, Poland and Sweden.
A2A is especially dominant within the Netherlands and Poland, the place iDEAL and BLIK – respective providers like IRIS – collect the overwhelming selection for on-line funds amongst Dutch and Polish shoppers, respectively. It’s attribute that A2A funds symbolize 62% of the worth of e-commerce transactions within the Netherlands in 2023 and 68% of the worth of e-communications transactions in Poland, with the prospect of reaching 73% by 2027. The direct fee service represents the 24% of e-commerce transactions in Germany too, in comparison with simply 11% of bank cards and 6% of debit playing cards, because it takes priority over funds through plastic cash, which burden the service provider or freelancer with increased charges.
Supply kathimerini.gr
Eugenia George