DIAS interbanking system has recently made improvements to the IRIS direct payment system in order to avoid any errors in the process of sending money.
Before completing the payment, the user will see the full name of the account holder who wants to send money. Until recently, only the first and last letters of the recipient’s name and surname were displayed.
Meanwhile, only 18 days remain until all online and physical stores have the ability to transact via IRIS. Thus, from November 1, customers will be able to pay by choosing the way they wish to pay via POS.
If they choose to complete their transaction via IRIS, a unique QR code will appear that will correspond to the specific transaction. The customer will “scan” it via IRIS and confirm the payment.
Under the new institutional framework, every business that accepts payments via IRIS (or similar mobile banking services) must complete them exclusively through a POS terminal, interconnected either with a tax mechanism or with the information systems of the Public Revenue Authority.
Businesses that have not connected their POS to the IRIS direct payment system since November 1 will face a fine of 10,000-20,000 euros.
