Point of sale

Checks have begun on professionals and businesses in the 35 retail sectors which are required to have POS terminals installed and accept card transactions from April 1

Residents of Western Bulgaria serviced by the electricity distribution company "Electrohold" now have a hassle-free way to settle their electricity bills online. The company has announced the launch of a virtual point-of-sale (POS) terminal on its website, allowing customers to make payments without the need for registration.

More than 340,000 connections of cash registers to points of sale (POS) are pending for the new way of issuing receipts to start without problems, when payment is made with plastic money.

Greece's Finance Ministry and tax authority AADE on Thursday announced an extension of 1+1 months for businesses to integrate their POS terminals with cash registers, so that it can be completed without technical problems.

The decision was taken following the demands of POS and cash register suppliers, as well as the businesses, to accommodate the demands of a complex effort.

Finance Minister Kostis Hatzidakis urged banks and terminal service providers to reduce fees for small-value transactions made via point-of-sale (POS) terminals, during a meeting with representatives from banks and payment service providers on Wednesday. 

Fines of up to 300,000 euros and the recall of cash register models are among the penalties planned for those who are involved in the process of connecting cash registers with POS and are late, according to an amendment the Finance Ministry submitted to Parliament.

The Economy and Finance Ministry on Thursday submitted a provision to parliament which aims to increase fines and impose sanctions against business that have yet to install POS terminals linked to cash registers.

The plan also foresees fines for providers of POS terminals and cash registries who do not comply with the law.

Taxpayers play their part in imposing tax compliance by reporting tax evasion or by scanning receipts with their cellphones to verify whether the payment document they received is authentic and whether it has been forwarded to the tax administration.

Severe penalties and fines will be imposed on companies that sell cash registers and POS terminals that do not upgrade their software by February 29, the day the deadline expires for businesses to interface POS with cash registers.

The government's financial staff has reportedly decided to extend the deadline for the delivery and installation of point-of-sale (POS) terminals by one month. This decision was made due to problems in the market, both due to the high demand recorded and the inability of many companies to proceed with their installation.