Online purchases with the use of QR Code via IRIS payments

Consumers now have the opportunity to pay for their online purchases directly from their bank account, by scanning a QR Code, through the IRIS Payments interbank service, which DIAS SA offers, in cooperation with domestic financial institutions.

Specifically, via this service, consumers can pay for purchases made at e-shops, by debiting a payment account via mobile banking.

Through the new QR Code scanning functionality of the IRIS Payments service, the transaction is initiated and completed at the merchant’s e-environment, while customers have complete control over the payment in their bank’s mobile banking, where the account is debited of.

As for collections, they end up as credit to the merchant’s IBAN held at the cooperating bank, while merchants are notified immediately upon the collection.

The step-by-step process

The customer selects the IRIS Payments option on the payment page of the e-shop on their laptop/desktop, resulting to the appearance of two payment options:

a) payment via their e-banking account

b) payment via their mobile banking app by scanning a QR Code

If they choose to pay with a QR Code they need to:

  • Scan the QR Code displayed in the e-shop with their preferred mobile banking app.
  • Select the account they wish to use to move forward with the purchase. There is no need to type in the payment amount as it is entered automatically.
  • Approve the transaction. After such approval, they are immediately informed about the purchase on the e-shop page on their laptop/desktop.

The CEO of DIAS SA, Stavroula Kampouridou, noted:

“Given that the mobile phone is an essential tool in our daily lives, DIAS SA in cooperation with domestic financial institutions has added a QR Code scanning functionality to IRIS Payments, offering afriendly payment experience for consumers, which is completed in just a few seconds. Moreover, cooperating merchants on their part, are instantly informed (24x7x365) about their collections. The IRIS Payments interbank service is constantly evolving, and its goal is to offer an even more direct, secure, and intuitive payment experience for the user”.

To find more information on IRIS Payments at an e-shop you can visit the link here, watch the relevant video or scan the QR Code: