Mandatory Acceptance of IRIS Instant Payments

November 12, 2025 13:49

IRIS payments is a payment method offered by Greek banks that allows customers to pay directly from their bank accounts. This payment method is mandatory for merchants with business in Greece, on Ecommerce and In-store. 

If you integrate IRIS through Adyen, you need to enter into a contract with one of the IRIS acquiring banks. An up-to-date list is available on this DIAS website. (As of Nov 2025: Alpha Bank, National Bank of Greece, Eurobank, Piraeus Bank, Viva.com and Credia Bank).

Adyen will support IRIS soon. Please consider the following limitations of Adyen’s solution for IRIS:

  • Adyen’s solution for IRIS is currently going to be Gateway only. This means that the merchant must contract with a Greek bank, as per procedure described below. Also, the funds will be paid out to your Greek bank account. The reconciliation process needs to rely on bank statements as provided by your bank.

  • Refunds and cancellations are not supported in Adyen’s solution. Refunds and cancellations need to be managed by the merchant with their Greek bank.

The obligation to accept IRIS payments starts on December 1, 2025. 

Adyen expects to support IRIS before the end of November, for In-Person Payments and E-commerce (API only).

Please note:

  • Adyen does not support refunds and cancellations

  • Double check with your Greek bank that settlement files fit your reconciliation requirements. If you require specifics references, please contact your bank

Steps to take

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1) Onboarding process with Greek bank

Merchants interested in activating IRIS through Adyen must contact their bank to request the IRIS service. The banks that support the IRIS service are listed on the DIAS website. It’s important to specify towards the bank that you intend to use Adyen as gateway/processor.

The bank will provide an onboarding form that the merchant needs to fill in in order to register with DIAS for the use of IRIS, and retrieve a “DIAS code (a 5 digit Merchant Identifier for IRIS). This form is called ​​“Annex A – DCT Creditor Parameters”. In this form, item 5 (Payment Code Standard) must be marked as “RI0”.

The bank may request additional forms related to connectivity setups with DIAS for IRIS transaction processing. These are not for merchants to fill in, given that IRIS connectivity with DIAS is managed by Adyen (as the merchant’s gateway).

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2) Technical integration

a) Technical integration - E-commerce

Initially Adyen will support IRIS in API-Only integration. Other integration types will follow. Once ready, the documentation will be provided on this Adyen Docs page. 

b) Technical integration - In-Person Payments

For In-Person Payment integrations, IRIS IPP is a QR code payment method supported on Adyen’s terminals. Our Docs page provides the generic description of these various QR code payment methods. IRIS IPP only supports the “Merchant-initiated flows” described on the relevant Adyen docs, in both options (“Initiate from terminal” & “Initiate from POS app”). The “Consumer-initiated flow” described on Adyen docs is not supported by IRIS.

While most of the functionality is generic and shared with all other QR code In-Person Payment methods, there are a few topics that apply specifically to IRIS IPP:

  1. The technical name of the payment method on the Adyen platform is “iris_pos”. This name applies in fields such as the “AllowedPaymentBrand” field (optional field in the SaleToPOIRequest), and the “paymentMethodVariant” field in Adyen’s response.

  2. Key limitations of Adyen’s solution:

    1. Gateway only  → merchant needs to contract with a Greek bank 

    2. Refunds and cancellations are not supported yet → merchant needs to handle refunds and cancellations with their Greek bank

    3. Supported on Adyen terminals from firmware v1.120 for Verifone Engage Terminals, Android terminals from Verifone and Castless will support this from version v 1.124 onwards. 

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3) Payment method setup on the Adyen platform

In the TEST environment, the payment method can be requested through the Customer Area.

In the LIVE environment, you need to request the payment method through an email to support@adyen.com, indicating:

  1. The 5-digit DIAS code that your bank provided you with (see step 1 above about the onboarding process)

  2. The merchant account(s) and store where you want to accept IRIS, and whether you want to support E-commerce, In-Person Payments, or both

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4) Reconciliation

The reconciliation process needs to rely on bank statements as provided by your Greek bank. From Adyen's side, the transactions are reported in the External settlement detail report.

FAQ

  • Does the regulation apply to merchants outside of Greece? 

    • Adyen’s current understanding is that the regulation may also apply to merchants without a local entity, but we cannot provide formal advice on this topic.

  • Given that many acquirers and local banks are not ready, will the regulation deadline be postponed?

    • We have heard many signals that the market is not ready in time, and that extensions have been requested. However, if a delay happens it’s likely to be communicated very late. For example, the initial deadline of November 1 was delayed only the week before.

  • What are the consequences of non-compliance? 

    • Note that Adyen does not give legal advice on the consequences of non-compliance. Based on information from multiple sources, the consequences of not complying may include a fine that is likely to be €1500, as described in Decision 119899/13-12-2023. It is currently unknown to Adyen whether this is a one-time fee, or if it will be charged repeatedly.