The obligation to accept card payments is extended, according to a Joint Ministerial Decision signed by the Ministries of Development and Finance. Professionals will be required to accept both card payments and instant payment services.
In another 35 sectors of the Greek economy, the obligation to accept card payments (debit or credit) is extended, according to a Joint Ministerial Decision signed by the Ministries of Development and Finance.
More sectors to accept card payments and instant payment instruments in Greece from 2024
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Greece
Author: Kristina Dosen
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Fiscal subject related
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328
Content accuracy validation date:
28.12.2023
Content accuracy validation time:
07:53h
Content
The mentioned joint Ministerial Decision provides, among other things, for a fundamental revision of previous regulations for the acceptance of card-based payment instruments, as well as other modern methods.
Based on these changes, as of January 1, 2024, professionals in all retail and consumer services sectors will be required to accept both card payments and instant payment services by transferring funds between bank accounts, such as IRIS online payments.
Among the added sectors, as per the same decision, from January 2024, the sectors that include trade registered by various business codes. When it comes to the area considered as retail, the expanded sectors inside the retail trade include codes 4711, 4719, 4729, 4781, 4782, 4789, and 4799.
The types of sales that will be covered in 2024, particularly inside the retail sector, include, but are not limited to:
- Retail trade in non-specialized stores selling mainly food, beverages, or tobacco
- Other retail trade in non-specialized stores
- Retail trade of food, beverages, and tobacco in outdoor stalls and markets
- Retail trade of textiles, clothing, and footwear in outdoor stalls and markets
- Retail trade of other goods in outdoor stalls and markets.
In regards to penalties in cases of non-compliance, the decision stipulates that for the period from 1 February 2024 until 1 March 2024, the imposition of a fine on new debtors is exceptionally suspended if it is proven that they have purchased card acceptance terminals up to and including the 31st of January 2024 and are waiting for their installation in their business.
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