A new law in Greece requires merchants that accept payments through POS devices to clearly advertise that they take this form of payment or risk a $1,076 fine.

The move is a Ministry of Finance bid to expand the electronic transactions market in the country.
 
The law requires business owners that accept payment cards to clearly notify consumers in a manner that is not open to misinterpretation. The notifications should be posted both at the entrance of the store and at the cash register.
 
Various departments of the government will be responsible for imposing fines on merchants that do not offer consumers complete payment information, though the fine can be halved if the merchant pays it within 30 days of notification. The new rule’s implementation is subject to approval from the Minister of Economy and Development.
 
The fine is the first step in the Ministry of Finance’s plan to expand electronic transactions in the country. Following the implementation of this notification regulation, the ministry will roll out requirements for merchants to install POS devices to accept electronic payments. The requirement will be in three phases targeting different industries, with the first coming within the first half of 2017, the second coming by the end of the year and the third coming in the first half of 2018.