As of Monday, December 1, the obligation to accept payments through the IRIS system will be implemented in all retail trade.
The Independent Authority of Public Revenue (AADE) has already announced that it has completed the regulatory framework for the interconnection of cash systems with the Tax Administration, integrating instant payments into the everyday lives of consumers.
This means that as of December 1, customers will be able to pay by choosing the way in which they wish to complete the transaction via POS. If they choose to pay 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.
Fines
Regarding fines, businesses that are found to have not upgraded and interconnected their POS and IRIS systems with the AADE will be fined 200,000 euros. In the event of a repeat offense within 5 years, the fine will increase to 300,000 euros.
It is worth noting that from the middle of next year, the IRIS system will be expanded abroad, enabling money transfers between individuals in countries of the EuroPA network, such as Italy, Spain, Portugal, Scandinavian countries and Poland.
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