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All shops and businesses will have to accept payments through the IRIS system as of November 1, 2025, according to a special provision in the bill to strengthen the capital market. This means that the regulation is forcing all merchants, whether they have brick-and-mortar stores or e-shops, to start accepting direct payments within seven months.<\/p>\n
This concerns the ability for consumers to pay for goods or services directly from their account \u2013 without using an IBAN, but with a QR code \u2013 and the payment to be made immediately, within a second, a feature supported by the IRIS system.<\/p>\n
The bill also contains special provisions for the reduction of private debt, by expanding the number of households that are considered \u201celigible\u201d and can settle their debts through the out-of-court mechanism, now also covering the middle class. The income and asset limits based on which banks and management companies are obliged to accept the settlement resulting from the out-of-court mechanism algorithm are doubled. The new income and asset limits start at 14,000 euros (from \u20ac7,000 today) for single-person households and reach up to \u20ac42,000 (from \u20ac21,000) for households consisting of five members or more or for single-parent families with more than three minor members.\u00a0<\/p>\n
Accordingly, the limits for the value of property start from \u20ac240,000 (against \u20ac120,000 today) for single-person households and increase up to \u20ac360,000 (from \u20ac180,000 today) for households consisting of four members or for single-parent families with two minors.<\/p>\n
According to the calculations of the Ministry of National Economy, the increase in income and property limits leads to a 12-fold increase in the number of individuals classified as \u201celigible debtors,\u201d from 7% to 85% of all applicants. The condition is that the debtor has a maximum limit of \u20ac300,000 in nonperforming debts to banks or servicers.<\/p>\n
The arrangements concern individuals or professionals currently in the extrajudicial mechanism, whose debts amount to \u20ac33.6 billion out of a total of \u20ac42.7 billion, which is the total extrajudicial debts based on applications to date.\u00a0<\/p>\n<\/p><\/div>\n