Greece Ups Transaction Limits on IRIS Real-Time Payments System

Summary

Greek regulators have doubled the daily IRIS instant‑payment limit to €1,000 and added a €5,000 monthly cap for peer‑to‑peer transfers, while keeping no ceiling on business payments, aiming to boost IRIS market share and lower merchant costs. The move follows strong domestic adoption—instant payments now represent about 40% of transfers and Greece is the first EU nation with near‑ubiquitous POS acceptance, driven by a mandate that all merchants support IRIS. Looking ahead, IRIS will link to European networks like EuroPA and EPI, enabling cross‑border real‑time transfers and allowing EU consumers to use their preferred system abroad. These steps position Greece as a leader in instant‑payment adoption and interoperability across Europe.