POS / 50% reduction in fees for transactions up to 10 euros for three years

The reduction by 50% of commissions in the transactions carried out through POS terminals provides for the legislative regulation contained in amendment of the Ministry of National Economy and Finance, which was submitted to the bill of the Ministry of Justice.

Specifically, for next 3 years in transactions up to 10 euros made with private credit, debit and prepaid cards issued in Greece, it is provided that the clearing commission charged to the merchant cannot exceed 0.50% of the value of the transaction. Accordingly, the maximum bank commission for private debit and prepaid cards is set at 0.10% and for private credit cards at 0.15%, while the maximum payment service provider fee from international card organizations is set at 0.10%.

The regulation concerns transactions up to 10 euros carried out in ebusinesses included in the framework of “Small Retail”. In more detail, they concern grocery stores & mini markets, press agencies & kiosks, smokers’ items, tobacconists, bakeries, taxis, nut and confectionery stores, dairy stores, dry cleaners, shoe repair shops, tailors & clothing repairs/retails, sewing shops – knitting-fabrics, various food stores, convenience stores, etc.

It is noted that the setting it does not apply to businesses that have the legal form of a limited liability company and to businesses that have more than 3 card acceptance terminals, which they have received from the same payment service provider.

Another provision also provides a solution to the problem of obtaining POS from entrepreneurs with poor credit. In particular, it is defined that payment service providers cannot refuse to provide POS to businesses and professionals if there are sufficient ways to secure them citing reasons of credit rating or capacity as well as reasons related to potential high-risk transactions. Furthermore, the possibility of additional collateral from the providers is foreseen, such as indicatively the advance payment of an annual fee, the provision of a guarantee and the possibility of clearing transactions within a sufficient period of time from their realization. It is noted that, in case of non-compliance by the providers, a fine of 1,000 euros is provided for each violation by the Governor of AADE. Finally, it is emphasized that the conditions relating to the collateral of payment service providers can be specified by Ministerial Decision.

In addition, the partial (proportional) payment of traffic fees with the possibility of removing the immobility of vehicles for 2024. For example, if a car owner with annual road tax of 300 euros immobilizes his vehicle for a period of 4 months he will pay 100 euros (4/12). It is noted that, when the period of movement for which the fees have been paid expires, the owner must immobilize the vehicle again. Failure to do so will result in a fine equal to twice the annual traffic charges, minus twice the amount of proportional traffic charges already paid.