myPOS resumes operations in Greece
Product News / 29.10.2019
After a 4-year halt on the Greek financial services market, we are resuming operations, bringing more experience in payments and more innovative services to the small and medium companies in the tourism, restaurants, transportation, leisure and beauty industries.
From gloom to bloom
Between 2015 and 2019, cross-border payment solutions like myPOS experienced limitations on their operations in Greece due to restrictions on movement of capital from Greece to other foreign locations.
Fast forward 4 years to 2019. On August 26, 2019 the current government put an end to these restrictions.
Effective September 1st, 2019 Greek companies and citizens are able to freely transfer money abroad. Furthermore, all EU licensed E-money institutions and payment services providers can provide freely e-money accounts and acquiring and issuing services to Greek merchants.
What does this change mean to Greek businesses?
The restrictions are already “a thing of the past” and this will surely have a positive effect on these companies simply because they will be able to access a wider variety of financial services and payments providers.
In these 4 years we have grown as well – the result is more and improved services as well as more card processing machines to choose among. If you have a company in Greece, here’s what we have for you:
- A wide range of powerful and affordable credit card readers that starts with the new entry-level myPOS Go and ends with the intelligent Android-based Smart and Smart N5 machines.
- A free myPOS merchant account that consolidates payments received from all payment channels – online, via phone or in store.
- Instant money settlement and a FREE business debit card to use the money with
- A mobile application that allows you to see, accept and manage your transactions in real time anywhere, anytime.
- Additional payment services such as PayLinks and PayButtons for your online store, Payment Gateway to accept card payments from any website or mobile app, Virtual Terminal for MO/TO payments and Payment Request, which enables you to collect payments via email, SMS or chat.
- Most importantly – NO monthly or yearly service fees and NO binding contracts!
The myPOS services, e-money accounts and payment terminals are completely legal in Greece, all local merchants need to do is download their IBAN Certificate from their myPOS account and register the account with the Greek NRA.
This can be declared manually by filling in the E3 document (fields 040 & 041), provided by the ERA.
We are happy to be back in Greece in full operation and continue to offer innovative payment services that help local businesses in their development!
If you need any further help with this, please contact our Customer Support at email@example.com.