The most frequently asked questions regarding the new obligation to use and connect POS card payment terminals in Greece are questions such as: Which entities are obliged to accept payment card payment instruments (use of POS-EFT) and instant payment services from account to account (e.g., IRIS payments)?
More questions and answers are as follows.
The 3 most frequently asked questions about card payment instruments and obligations for interconnection in Greece
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Greece
Author: Kristina Dosen
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Fiscal subject related
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131
Content accuracy validation date:
06.03.2024
Content accuracy validation time:
08:17h
Content
- Which entities are obliged to accept payment card payment instruments (use of POS-EFT) and instant payment services from account to account (e.g., IRIS payments)?
- Entities that receive payment from a payer, i.e., a natural person who holds a payment account and allows a payment order from that account or, in the absence of a payment account, the natural person who gives a payment order, if the payer acts as a consumer for purposes that are outside his trade, business, or trade. Therefore, the obligated party to accept and use payment instruments with a payment card and payment instruments with direct payment services from account to account is any natural or legal person who deals with persons acting as consumers, provided that he either provides services or offers products for sale.
- If the obligated party operates exclusively digitally, without the existence of a physical store or the possibility of transactions with the physical presence of the consumer (e.g., an e-shop), is he exempt from the obligation to own and use a POS?
- Yes, they are exempt, provided that the following conditions are cumulatively met:
- a) The obligated party provides the possibility of direct payment from account to account using a relevant application (e.g., IRIS)
- b) The obligated person accepts card payment instruments (credit, debit, prepaid, or virtual) through a secure bank payment environment.
3. If a freelancer or business owner accepts payments only from businesses or other freelancers in Greece, are they obliged to apply the Ministerial Decision regarding the obligatory acceptance of payment instruments with cards and instant payment services?
- No, since a prerequisite for the existence of an obligation to accept payment instruments with a payment card and with instant payment services from account to account is the acceptance of payment by a natural person acting as a consumer for reasons that do not fall within his trade, business, or commercial activity. However, in the event of an official check, the payee should be able to prove that he does not deal with natural persons but only with entities acting exclusively in the course of their business to be exempt in this way.
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