FAQ

IRIS Pay is an innovative payment method that transfers funds directly from the customer's bank account to the merchant's bank account (A2A). Businesses can accept payments online, through payment links or using QR codes, without requiring customers to enter card details.

Iris Solutions AD is a company providing innovative fintech services. The company is licensed by the Bulgarian National Bank to offer payment services under Article 4, items 7 and 8 of the Payment Services and Payment Systems Act – payment initiation services and account information services.

To become a client of Iris Solutions, register your business with IRIS Pay and sign a merchant agreement. You can start the process online through the IRIS Pay registration page.

The registration process can be completed within one business day. It includes company verification, identification of directors and beneficial owners, signing an agreement, and adding a bank account and business location or website.

No. You can use your existing bank account to receive the payments.

Yes. Individuals can use IRIS Pay to pay participating merchants directly from their bank accounts. They do not need a merchant account or a separate IRIS Pay registration. The requirement to register as a merchant applies to businesses accepting payments.

IRIS Pay lists connections with banks and payment institutions in Bulgaria, Romania, Greece, Croatia, Cyprus and Italy. Customers can select from the available banks during the payment process. Availability may vary depending on the bank and country.

IRIS Pay by Click is a payment method integrated directly into your website or platform, allowing customers to pay via direct bank transfer – without cards and without entering sensitive data.

IRIS Pay by Link allows the merchant to generate a payment link from the web portal and send it via email, SMS, Viber, WhatsApp or an invoice. The customer pays in seconds from any device.

How does QR code payment work? The merchant generates a QR code through the mobile app or web portal. The customer scans it, selects their bank and authorises the payment through online or mobile banking – no POS terminal needed.

No. The customer pays through their existing mobile banking app – no additional installation needed.

It enables merchants to generate QR codes for in-person payments.

Log in to the IRIS Pay merchant portal, enter the payment amount and description, and generate a payment link. You can share it via email, SMS, Viber, or WhatsApp. The customer selects their bank and authorises the transfer.

Yes. With IRIS Pay by Link, businesses can include a payment link in an invoice or send it separately to the customer. The customer can then authorise the payment directly through their bank without manually entering the merchant's bank details.

Yes. IRIS Pay enables businesses to receive account-to-account payments from other companies. Payment links can be used for invoices and service payments, while checkout integration may suit B2B e-commerce. Transaction limits depend on the participating banks and payment conditions.

Small businesses can use IRIS Pay by QR for in-person payments or IRIS Pay by Link for remote payments. Customers authorise the transfer through their own online or mobile banking, while merchants receive funds directly into their bank accounts.

IRIS Pay offers integrations with GombaShop, Shopiko, Valival and MerchantPro, plus plugins for OpenCart, Magento, PrestaShop, WooCommerce/WordPress and Saap. Custom integration options are also available.

Yes. IRIS Pay supports API integrations alongside ready-made e-commerce plugins. This allows businesses to explore connecting bank payments to websites, mobile applications and existing systems. Contact the IRIS Pay team for technical documentation and integration requirements.

Instant bank transfers can reach the merchant's account in around 10 seconds. Standard bank transfers may take longer, depending on the participating banks and processing conditions.

No. The funds are transferred directly to the bank account specified by the merchant.

Yes. For every successful payment made through IRIS Pay, the merchant can refund the customer partially or in full with just a few clicks, directly from the Iris Solutions system.

IRIS Pay has no monthly subscription fee (€0) and charges 0.49% per successful transaction. The fee is payable in the month following the transaction. You can review the latest rates on the IRIS Pay pricing page.

The IRIS Pay merchant portal provides real-time transaction statuses, payment details and downloadable reports. Merchants can use these records to verify successful payments and reconcile transactions with orders or invoices.

With IRIS Pay, customers authorise payments in their bank's secure environment using the bank's authentication methods, such as biometrics or a PIN. They do not need to enter card numbers or CVV details at the merchant checkout.

Pay by Bank allows customers to pay directly from their bank accounts instead of using a debit or credit card. IRIS Pay enables this through account-to-account (A2A) payments. Unlike card payments, these transactions do not rely on card networks, and customers authorise the transfer through their banking environment.

Open banking enables authorised payment providers to initiate bank-account payments with the customer's permission. IRIS Pay uses this technology to let businesses accept direct bank payments through online checkout, payment links or QR codes.

SEPA Instant is a payment scheme for instant bank transfers in euros, while A2A (account-to-account) refers to payments made directly between bank accounts. IRIS Pay initiates A2A payments, but not every A2A transaction is necessarily processed through SEPA Instant. The transfer speed depends on the specific payment and the participating banks.