Now Available: The Cards and Payments Industry in Greece: Emerging Trends and Opportunities to 2020
New Financial Services research report from Timetric is now available from Fast Market Research
[ClickPress, Thu Jul 07 2016] Timetric's 'The Cards and Payments Industry in Greece: Emerging Trends and Opportunities to 2020' 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 card, credit and charge cards. It also includes detailed analysis of the prepaid card market.
* Detailed insights into payment instruments including credit transfers, cash transactions, checks, direct debits and payment cards. It also, includes an overview of the country's key alternative payment instruments.
* E-commerce market analysis and online payment types.
* 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 in the Greek cards and payments industry.
Full Report Details at
* In the wake of the economic crisis, the Greek government was forced to implement austerity measures to gain access to a US$95.5 billion (EUR86 billion) bailout package from the international Monetary Fund (IMF), European Union (EU) and the European Central Bank (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. These measures are anticipated to encourage a consumer shift towards card payments.
* In view of a decrease in profits and high operating costs, banks in Greece are cutting infrastructure spending and looking to low-cost business models such as digital banking. German-based bank Number26 launched services in Greece in December 2015, and became the country's first digital-only bank. The platform's emergence is likely to accelerate a shift towards electronic payments in Greece.
* 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 is the introduction of MasterPass by MasterCard in June 2016. MasterPass stores all 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.
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