IRIS Payment System Deadline: Final Date Set for Monday, September 2 – Heavy Fines for Non-Compliance

For self-employed persons, the activation is done through their business account. The deadline for joining the system is Monday, September 2. A fine of €1,500 is foreseen for those liable who do not register in IRIS by the deadline. Messages are being sent to debtors who have not yet logged in.

Faced with a hefty fine as long as professionals and self-employed people do not join the payment system. The obligors’ mobile phone must be connected to a business account, the one that in banking terminology is called a “current account.

For self-employed persons, the activation is done through their business account. The deadline for joining the system is Monday, September 2. A fine of €1,500 is foreseen for those liable who do not register in IRIS by the deadline. Messages are being sent to debtors who have not yet logged in.

In its statement, the Ministry of Economy and Finance said: “On Monday, September 2, the deadline available to freelancers and self-employed persons for connecting their business account to the direct payment system (in Greece, the IRIS system is currently operating) expires. Through this system, they are allowed to accept direct payments from their customers and benefit from the significant advantages offered by the service, such as significantly reduced or no commission costs and speed in processing transactions.”