An increase of 201.5% and 104% over the 10 months from January to October shows the number of transactions between individuals and payments from individuals to enterprises, respectively, through IRIS direct payment service which have been accepted banks and which allows you to transfer up to 500 euros per day for free.
The increase is due to the continued proliferation of electronic transactions with a focus on direct payments, also made possible by the adoption of the generic name IRIS, which has been adopted by the banking system since October 2021 and has made the related service more recognizable. the number of traders.
The service is available at all banks and aims to replace cash for transactions between individuals, such as money transfers between friends (P2P person-to-person) for payment, for example. bill at a restaurant, cafe, etc. . simply using a mobile phone number or contact, i.e. without knowing the IBAN, as well as payments in e-commerce (Person to Business – P2B) to purchase products or services without using a debit or credit card.
The condition is that someone, be it an individual, a professional or a business, has activated the IRIS service in their bank’s mobile banking and payment is made in a cheap, secure and immediate way.
The process of transferring money is completed in a few seconds, while the recipient of the payment is immediately informed about the completion of the transaction.
According to DIAS, the number of P2P transactions increased in the 10 months from January to October compared to the corresponding period last year by 201.5% and amounted to 4.2 million euros, while the corresponding value of these transactions increased by 149% and amounted to 183.3 million Euro. Accordingly, the number of P2B transactions increased over the same period by 104%, reaching 15.3 thousand, while the value increased by 96%, reaching 1.3 million euros.
Accordingly, the number of individual users who registered with the IRIS service to transfer money to another person was approximately 1.3 million, and the number of professional users reached 81,000.
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.