Consumers, once they have activated the service in mobile banking, will be able to make their payments within seconds
In the everyday life of consumers and everyone freelancers and self-employed it enters IRIS direct payment system from January 1, 2024. This opens the way for transactions of up to 500 euros per day without fees for professionals, with payments being made instantly even without the use of a phone number.
Freelancers and entrepreneurs who maintain a business account, have an obligation to accept payments through direct payment servicesdefines a provision of the bill on the changes to the extrajudicial mechanism and sevicers which was submitted on Thursday (23/11) to the Parliament.
Consumers, once they have activated the IRIS service in mobile banking, will be able to make their payments within seconds by entering the VAT number, the name or the mobile phone number of the professional, data which for convenience can be provided in the form of a QR Code to be scanned .
The new provisions stipulate that payees, who accept payment cards, and payees who are obliged to accept payments through a direct payment service, inform consumers about the acceptance of cards and means of payment of the payment card system, in a clear manner that is not open to misinterpretation.
This information must be clearly displayed at the entrance of the store and at the checkout, as well as on the website through which they accept payments.
The IRIS system
The IRIS system allows businesses and professionals to collect debts from their customers directly and easily within seconds. Customers make their payments knowing only the mobile number or the company’s VAT number, without knowing her IVAN. It is enough that both parties have activated the IRIS service on mobile banking.
For the further convenience of the customer, the business may provide the mobile number or VAT number in the form of a QR code to be scanned. The collection process is completed within seconds and the business or professional is immediately informed of the completion of the transaction. Consumers and businesses do not have the slightest charge for transactions up to 500 euros per day.
