Of Chrysostom Chufi

Let’s take for example any e-shop. The consumer enters his website, examines the available products, selects this/what he wants and proceeds with the payment. Each e-shop that respects itself in the options available for payment has with a Visa or Maestro card, Google Pay, Revolut, Paypal and even cash on delivery.

As of November 1, all e-shops, larger or smaller, will be required to offer its ability to pay through Iris which will literally become an exaggeration A little ‘revolution’ in that market.

This is because IRIS payment will not require the consumer to type their card details and does not finally require the 3 -digit number on the back of the card. Payment will be made directly through customer’s bank by filling in the code to be sent to his mobile and only. This significantly enhances the safety of transactions and significantly reduces the risk of hacking and spying on customer bank card data.

The Iris revolution will extend to the whole market – not only to e -commerce but also to natural – from November 1 as stipulated a provision included in the Ministry of Finance’s bill to strengthen the capital market which was submitted to Parliament yesterday. At the moment, obliged to offer the ability to pay through Iris, they are only freelancers. In 7 months the obligation will include All legal entities.

The happy thing is that you do not need any particular interconnection process or anything else that will disturb the operation of businesses or a supply of a device or material that will burden them financially.

All you need is one software upgrade to existing POS which will have dual effect:

  • On the one hand it will allow Iris payment. Before paying the employee or trader will ask the customer if he wants to pay by card or via IRIS. The professional will be motivated to ask the particular question why The IRIS system has much smaller supplies for professionals. Since the customer chooses the Iris, all it has to do is pass the mobile over the POS, as is the case now.
  • The second result of upgrading is the connection of the system to cash registers so that By paying, directly issuing proofso that AADE has the full picture.

Meanwhile, Iris’s penetration into the Greek public is growing rapidly. In late September, private registered users of the system numbered 3.15 million. In the past 6 months they have been “harvested” by 520,000 (about 2,889/day), reaching the 3.67 million.

Already 565,000 freelancers – almost all of which – have complied with the compulsory provision of Iris’s capacity but also 7,500 businesses/ legal persons Although they are not yet mandatory for them.

At the same time rapidly is the increase of the value of transactions via IRIS.

According to the available data from DIAS SA The value of transactions in the first quarter this year almost doubled in 2,027 billion € from 1,048bn € the corresponding period last year.