A Greek e-shop needs at least three payment methods: card, IRIS and cash on delivery. Card and IRIS acceptance are now mandatory for businesses, while cash on delivery remains deeply embedded in the Greek market and is not worth removing.
Every missing method is baskets lost at the final step. Every unnecessary one is an extra decision for the customer.
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What you are obliged to accept
Two obligations already apply to Greek businesses.
- Cards. Businesses falling under the card acceptance obligation must offer terminal or online card payment.
- IRIS. Acceptance of IRIS instant payments became mandatory in stages, with online stores brought in from 1 November 2025.
Non-compliance carries fines, so if your e-shop was built before 2025 and has no IRIS, that is an outstanding item rather than an option.
Always confirm with your accountant what applies to your specific legal form and activity.
The options, with numbers
| Method | Fee | Settlement time | Suits |
|---|---|---|---|
| Viva Wallet | 1.5% – 2% | Fast, often same day | Greek e-shops of any size |
| Stripe | 1.4% + €0.25 | 2–7 days | Sales outside Greece too |
| IRIS | Low, capped per transaction | Immediate | Small and mid-sized baskets |
| PayPal | 3.4% + €0.35 | Immediate to balance | Customers who specifically ask |
| Cash on delivery | €1.50 – €3 per shipment | On courier settlement | First purchases, new customers |
| Bank transfer | €0 | 1–3 days | Large amounts, B2B |
Exact fees are negotiable and shift with turnover. Get quotes from two providers before committing.
Here is what it means in practice. On a €30 basket: Stripe costs roughly €0.67, PayPal €1.37. Across 400 orders a month, the difference is over €3,000 a year.
Cash on delivery: why it persists
In the Greek market, cash on delivery remains one of the most popular methods, particularly on a first purchase from an unfamiliar shop. The reason is not technological — it is trust.
Its problems are cost and undelivered orders.
How to manage it properly:
- Charge it to the customer. €1.50–€3, stated clearly before checkout.
- Set an upper limit. Above €200–€300, require prepayment.
- Incentivise card payment. Free shipping or a small discount for paying online.
- Track refusals. If they exceed 5%, tighten the limit.
The goal is not to abolish it. It is to shift it gradually towards card, without losing the customers who want it.
IRIS: what it gives you beyond the obligation
Beyond being mandatory, IRIS has two practical advantages for a small e-shop.
- Lower cost than cards in most cases, particularly on small baskets.
- Immediate credit, with no settlement wait and no chargebacks.
The downside is that it addresses a Greek audience with a Greek bank account. For sales outside Greece you need cards regardless.
Practically: keep IRIS as the second option at checkout, after card, and watch how it performs over the first three months.
Not sure which provider to choose?
Tell us your monthly turnover and average basket and we will tell you which combination costs least.
How many methods should I enable?
Three or four. Not seven.
| Position | Method | Why |
|---|---|---|
| 1st | Card | The most widely used, covers foreign customers too |
| 2nd | IRIS | Mandatory, cheap, immediate |
| 3rd | Cash on delivery | Builds trust on a first purchase |
| 4th (optional) | PayPal or bank transfer | Only if customers ask for it |
Past four options, the customer stops choosing and starts thinking. That is an abandoned basket.
How payments affect conversion
Three things matter more than the length of your options list.
- Visibility early. Put payment method logos on the product page, not only at checkout.
- No surprises. Cash-on-delivery charges and shipping are stated before the customer enters any details.
- No forced account. Guest checkout must be available.
In Greek e-shops, hidden charges at the final step are the number one cause of abandonment.
What to get right technically
- Invoicing. Every payment must produce a tax document transmitted to the authority — see connecting an e-shop to myDATA.
- Unpaid orders. They should neither reserve stock nor issue a document.
- Refunds. Money goes back through the same payment method, within the statutory deadlines.
- Security. SSL everywhere, and never store card details on your own server.
- Testing. Before launch, place one real order with each method and process one refund.
The legal obligations around returns and withdrawal are in our guide to legal requirements for an e-shop.
Frequently asked questions
Do I need a business bank account?
Yes. Payment providers and IRIS connect to a business account.
Can I accept cash on delivery only?
Not any more. Card and instant payment acceptance is mandatory for businesses covered by the rules.
What does connecting a payment provider cost?
The technical integration typically €150–€400 if outsourced. Most providers charge no standing fee, only a per-transaction commission.
What about instalments?
Offered through card providers, at an extra cost you either absorb or pass on. Worth it on baskets above €150.
How does this affect average basket size?
Card payments and instalments lift the average basket; cash on delivery keeps it low, because the customer pays cash at the door.
What to do this week
Open your checkout on a phone and measure two things: how many steps to completion, and at which step the total cost first appears.
If the total appears after the address fields, that is the first thing to fix.
If you are building an e-shop from scratch, see e-shop costs in Greece, and if you are coming from Instagram, the migration guide.
Next step
Book a free 30-minute call with the team at The Dev Alley. We will work out which payment methods you actually need and what each one costs you.