Greece Cards and Payments - Opportunities and Risks to 2025

Greece Cards and Payments - Opportunities and Risks to 2025

  • June 2022 •
  • 61 pages •
  • Report ID: 5948609 •
  • Format: PDF
Greece Cards and Payments - Opportunities and Risks to 2025

Summary
‘Greece Cards and Payments - Opportunities and Risks to 2025’ 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 (2017-21e).

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 (2021e-25f). 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.

The report provide 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.
- Ecommerce 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.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape of the Greek cards and payments industry.

Scope
- To promote electronic payments in the country and tackle tax evasion, the government introduced a new law effective from January 1, 2020. The law mandates that salaried workers, pensioners, property landlords, freelance professionals, and farmers in Greece must spend at least 30% of their annual income via electronic payment methods such as debit cards and credit cards. Unemployed individuals and people aged over 70 are exempt from the requirement.
- Digital-only banks are extending their presence in the country to take advantage of the growing use of digital banking services. UK-based digital-only bank Revolut extended its operations to Greece in March 2021. It offers Standard, Plus, Premium, and Metal accounts, which include a debit card. Similarly, N26 offers Standard, Smart, and Metal accounts along with Mastercard debit cards. In April 2022, Piraeus Bank partnered with financial software services provider Natech to develop a digital-only bank in the country. Natech design, supports, and develops software for financial institutions such as banks, digital wallets, and digital banks. The app will give customers access to banking products as well as buy now pay later services. However, at the time of writing no launch date has been announced. The rise of digital-only banks will help drive demand for banking products such as debit cards.
- To benefit from the growing preference for alternative payments, banks and payment services providers are launching new payment solutions. In March 2021, Piraeus Bank launched its mobile payment solution Winbank Pay in Greece. To make in-store payments, users need to save their Mastercard or Visa card details in the app and make contactless mobile payments by tapping their phone against NFC-enabled POS terminals.

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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