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The Cards and Payments Industry in Greece: Emerging trends and opportunities to 2019-2026

  • Id : RNR-95215
  • Category : Technology & Media
  • Publish Date : 2019
  • Pages : 50
  • Format : PDF
License Type

Description
The Cards and Payments Industry in Greece: Emerging trends and opportunities to 2020

Summary

GlobalData?s "The Cards and Payments Industry in Greece: Emerging trends and opportunities to 2020" 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 credit transfers, cash, payment cards direct debit and cheques during the review period (2012-2016).

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 (2016-2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData?s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the 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 credit transfers, cash, direct debit, payment cards and cheques. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis and payment methods.
- 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

- In the wake of the economic crisis, the Greek government was forced to implement austerity measures to gain access to a $95.5bn (?86bn) bailout package from the IMF, the EU, and the ECB. Consequently, the government imposed capital controls and took a number of measures to arrest the outward flow of money, curb tax evasion, and encourage electronic payments, including restrictions on cash withdrawals at ATMs, remittances, and the use of payment cards abroad. The latest measure is the compulsory acceptance of card-based payments at retail outlets and by certain categories of professional (such as doctors, lawyers, electricians, and plumbers) effective from January 1, 2016. However, the restrictions imposed on cash withdrawals and fund transfers were relaxed in August 2016 to increase liquidity in the banking system.
- To boost electronic payments, in November 2016 the Greek government proposed to provide tax benefits and other incentives to individuals and businesses for using payment cards. These include additional tax benefits to those who use cards for more than 80% of their total annual spending, and tax discounts on medical expenses paid with payment cards. The ministry has also proposed incentives for businesses by reducing the tax rate on earnings from sales via payment cards. The government also proposes to make it compulsory for businesses to pay their employees through a bank account if their annual salary is above $526.10 (?500).
- While the government has placed restrictions on transactions from international online retailers, domestic e-commerce activities are outside the boundaries of the rules. To benefit from this, payment companies are introducing new online payment solutions for domestic online purchases. The latest of these was the June 2016 introduction of Masterpass by Mastercard. Masterpass stores all of a customer?s payment cards in a single location. This service is supported by Alpha Bank, Piraeus Bank, Eurobank Ergasias, AXA Insurance, Leroy Merlin, Sephora, and Wind.

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.