IRIS payments: New deadline for all businesses — What changes and what the fines are
From December 1st — not November 1st — mandatory acceptance of payments through the IRIS instant-payments system will finally take effect for all businesses. The Ministry of National Economy and Finance appears to have taken into account requests from many market stakeholders who asked for an extension.
Under Article 46 of the draft law titled “Tax reform for demographics and the middle class — Support measures for society and the economy,” the obligation for legal entities to accept payments via instant-payment services is set to start on December 1st to provide an adaptation period for operators and to ensure a smooth and effective implementation of the measure.
The mandatory acceptance of IRIS payments applies to all legal entities (for example: shops, supermarkets, online stores, etc.). According to announcements from market bodies that requested the extension, the main reason was observed difficulties in connecting payment systems with banks.
Note: under the regulatory framework, every business that accepts payments via IRIS (or similar mobile-banking services) must complete those transactions exclusively through a POS terminal that is connected either to a fiscal device or to the information systems of the Independent Authority for Public Revenue (AADE).
How it will work – Customers will be able to choose how they wish to pay via the POS. If they choose to complete the transaction using IRIS, a unique QR code corresponding to that specific transaction will appear. – The customer scans that QR code with the IRIS application and confirms the payment.
Penalties for non-compliance – From December 1st, businesses that have not connected their POS terminals to the IRIS instant-payments system will face fines: – €10,000 for businesses that keep single-entry (simplified) accounting, – €20,000 for those that keep double-entry accounting. – These fines are reduced by 50% when imposed on EFT/POS terminal users operating in settlements with populations up to 500 residents, and on islands with populations under 3,100 residents.
Transfer limits and future changes – Current IRIS transfer limits are: – Up to €500 per day for transfers between individuals (IRIS P2P), – Up to €500 per day for payments from individuals to businesses (IRIS P2B). – The total daily amount cannot exceed €1,000. – From January 2026: – The daily limit for IRIS P2P will increase to €1,000, with a monthly cap of €5,000. – The same applies to professional payments (IRIS P2B), where transactions of up to €31,000 per month will be allowed.
International expansion – From the middle of next year, the IRIS system will be extended abroad, enabling transfers between individuals in countries of the EuroPA network such as Italy, Spain, Portugal, the Scandinavian countries and Poland.
