IRIS transaction limit to be increased to 1000 euros

The government, together with banks, plans to increase the transaction limit through the IRIS payment system from 500 to 1,000 euros from March 2025.
From the same date, all retail businesses will be required to activate the IRIS direct payment system.

The change will be made at no cost to consumers, with a small fee for businesses. While the regulation calls for direct payments to be expanded across the board by October 2025, Greece will begin early, aiming to fully implement the plan by March 31, 2025.

During this time, it is necessary to update the transaction clearing software and make the necessary technical adjustments to ensure instant payments are possible for all businesses.

According to the latest data, there are 2.6 million users of the IRIS system and 400 thousand professionals. Of the 160 billion euros settled by DIAS (Interbank System ΔΙΑΣ ΑΕ) in the first quarter of the year, only 1.7 billion euros are related to IRIS. Of the 150 million transactions, only 16 million are related to IRIS, which suggests significant growth potential.

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