Expansion of IRIS transactions

The Ministry Finance will extend the option of consumers to pay at the POS of all businesses through IRIS from the first quarter of 2025, expanding the possibilities of direct payments as the safest, cheapest and fastest way to conduct transactions.

The instant payment system will be linked to the cash registers so that when someone pays through IRIS a receipt is issued at the same time, adding another tool for combating tax evasion.

As part of the effort to expand direct payments, the ministry has asked the banks to distinguish the amount that an individual can send money through IRIS (person-to-person) from the amount that a freelancer can pay (person-to-business), thereby raising the daily limit for the two products to 1,000 euros per day, from €500 today.

The possibility of paying with IRIS still concerns freelancers and the self-employed professionals, and...