Greece Cards and Payments - Opportunities and Risks to 2024

Greece Cards and Payments - Opportunities and Risks to 2024

  • May 2021 •
  • 58 pages •
  • Report ID: 5948609 •
  • Format: PDF
Greece Cards and Payments - Opportunities and Risks to 2024

Summary
’Greece Cards and Payments - Opportunities and Risks to 2024’ report provides detailed analysis of market trends in the Greek cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review-period (2016-20e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2020e-24f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.

The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

This report provides top-level market analysis, information and insights into the Greek cards and payments industry, including -
- Current and forecast values for each market in the Greek cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including cash, cards, credit transfers, direct debits, and cheques. It also, includes an overview of the country’s key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Greek cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope
- To promote electronic payments in the country and to tackle tax evasion, the government introduced a new law effective from January 1, 2020, mandating salaried workers, pensioners, property landlords, freelance professionals, and farmers in Greece to spend at least 30% of their annual income via electronic payment methods such as debit and credit cards. Breaches of this law result in fines, although unemployed individuals and people over 70 are exempt from the requirement.
- Digital-only banks are gradually expanding their presence in the country, helping drive demand for banking products such as debit cards. In December 2016, Germany-based digital bank N26 expanded to 17 new European countries, including Greece. In February 2020 the bank launched various new products targeting individual and corporate customers, including N26 You, Metal, and Business You accounts. In March 2021 the bank launched the CASH26 cash withdrawal and deposit service at partner merchant stores. On a similar note, Revolut launched its banking services in Greece in March 2021. It offers Standard, Plus, Premium, and Metal accounts in Greece, which include a debit card.
- To benefit from the growing preference for alternative payments, banks and payment service providers are launching new payment solutions. In June 2019, digital payment solution Apple Pay launched in Greece. The solution enables users to make in-store, online, and in-app payments. Users can store their debit, credit, and store card details within Apple Pay and use them to make payments. In November 2020, Google launched its Google Pay digital wallet in Greece. The solution enables users to make in-app, in-store, and online payments using stored payment card details. The solution is now supported by various issuers in Greece including Curve, Monese, N26, Revolut, and Viva Wallet.

Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Greek cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Greek cards and payments industry.
- Assess the competitive dynamics in the Greek cards and payments industry.
- Gain insights into marketing strategies used for various card types in Greece.
- Gain insights into key regulations governing the Greek cards and payments industry.
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