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The Cards and Payments Industry in Greece: Emerging Trends and Opportunities to 2020

The Cards and Payments Industry in Greece: Emerging Trends and Opportunities to 2020

Synopsis

Timetric’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 check payments, credit transfers, direct debits, payment cards and cash transactions during the review period (2011–2015).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, and 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 market shares of issuers and schemes.

The report brings together Timetric’s 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.

Summary

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.
Scope
  • This report provides a comprehensive analysis of the Greek cards and payments industry.
  • It provides current values for the Greek cards and payments industry for 2015, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Greek cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.
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.
Key Highlights
  • 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.


  • Definitions and Methodology
    • Definitions
      • Table Key Definitions
    • Methodology
      • Table Annual Average Exchange Rate
  • Key Facts and Events
    • Table Greece - Key Facts, 2015
    • Table Regional Benchmarking of Greece's Payment Cards, 2015
  • Executive Summary
  • Payment Instruments
    • Current Payment Environment
  • E-Commerce
    • E-Commerce Market Analysis
  • Alternative Payments
    • Alternative Payment Instruments
      • MasterPass
      • paysafecard
      • winbank wallet
      • my Alpha wallet
  • Regulations in the Cards and Payments Industry
    • Regulatory Framework
      • SEPA cards framework
      • Interchange fee regulation
    • Anti-Money Laundering (AML)
    • Foreign Direct Investment (FDI) Regulations
      • Table Greece - Mode of Entry of Foreign Banks
  • Analysis of Cards and Payments Industry Drivers
    • Demographic Drivers
    • Economic Drivers
    • Infrastructure Drivers
    • Business Drivers
  • Market Segmentation
    • Market Segmentation and Targeting
      • Consumer cards
        • Table Cards for High-Income Consumers, 2016
        • Table Cards for Students and the Young Population, 2016
        • Table Cards for Shoppers, 2016
      • Commercial cards
        • Table Commercial Cards Comparison and Key Features, 2016
  • Payment Cards
    • Payment Cards Market Analysis
      • Volume and value of payment card transactions by type
  • Debit Cards
    • Debit Card Market Analysis
      • Table Greece - Visa Multi-Lateral Interchange Fees, 2016
      • Table Greece - MasterCard Consumer Card Interchange Fees, 2016
      • Turnover per debit card and transaction values by channel
      • Debit card scheme and issuer shares in terms of transaction value
      • Debit cards comparison
        • Table Greece - Debit Cards Comparison and Key Features, 2016
  • Pay Later Cards
    • Pay Later Cards Market Analysis
      • Table Greece - Visa Multi-Lateral Interchange Fees, 2016
      • Table Greece - MasterCard Commercial Card Interchange Fees, 2016
      • Turnover per pay later cards and transaction values by channel
      • Pay later cards scheme and issuer shares in terms of transaction value
      • Pay later cards comparison
        • Table Greece - Gold Credit Cards Comparison and Key Features, 2016
        • Table Greece - Premium Credit Cards Comparison and Key Features, 2016
        • Table Greece - Charge Cards Comparison and Key Features, 2016
  • Commercial Pay Later Cards
    • Commercial Pay Later Cards Market Analysis
      • Commercial cards comparison
        • Table Greece - Commercial Cards Comparison and Key Features, 2016
  • Prepaid Cards
    • Prepaid Card Market Analysis
      • Prepaid cards comparison
        • Table Greece - Prepaid Cards Comparison and Key Features, 2016
  • Appendix
    • Tables
      • Table Greece - Payment Instrument Transaction Values (EUR Billion), 2011-2015
      • Table Greece - Payment Instrument Transaction Values (US$ Billion), 2011-2015
      • Table Greece - Payment Instrument Transaction Volumes (Million), 2011-2015
      • Table Greece - Number of Payment Cards in Circulation by Type (Million), 2011-2020
      • Table Greece - Volume of Payment Card Transactions by Type (Million), 2011-2020
      • Table Greece - Value of Payment Card Transactions by Type (EUR Billion), 2011-2020
      • Table Greece - Value of Payment Card Transactions by Type (US$ Billion), 2011-2020
      • Table Greece - Number of Debit Cards in Circulation (Million), 2011-2020
      • Table Greece - Debit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Greece - Debit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Greece - Number of Debit Cards in Circulation By Scheme (Million), 2011-2015
      • Table Greece - Debit Card Transaction Values By Scheme (EUR Billion), 2011-2015
      • Table Greece - Debit Card Transaction Values By Scheme (US$ Billion), 2011-2015
      • Table Greece - Debit Card Transaction Values by Issuer (EUR Billion), 2011-2015
      • Table Greece - Debit Card Transaction Values by Issuer (US$ Billion), 2011-2015
      • Table Greece - Number of Pay Later Cards in Circulation (Million), 2011-2020
      • Table Greece - Pay Later Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Greece - Pay Later Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Greece - Number of Pay Later Cards in Circulation By Scheme (Thousand), 2011-2015
      • Table Greece - Pay Later Card Transaction Values By Scheme (EUR Million), 2011-2015
      • Table Greece - Pay Later Card Transaction Values By Scheme (US$ Million), 2011-2015
      • Table Greece - Pay Later Card Transaction Values By Issuer (EUR Billion), 2011-2015
      • Table Greece - Pay Later Card Transaction Values By Issuer (US$ Billion), 2011-2015
      • Table Greece - Number of Credit Cards in Circulation (Million), 2011-2020
      • Table Greece - Credit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Greece - Credit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Greece - Number of Credit Cards in Circulation By Scheme (Million), 2011-2015
      • Table Greece - Credit Card Transaction Values By Scheme (EUR Billion), 2011-2015
      • Table Greece - Credit Card Transaction Values By Scheme (US$ Billion), 2011-2015
      • Table Greece - Number of Charge Cards in Circulation (Thousand), 2011-2020
      • Table Greece - Charge Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Greece - Charge Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Greece - Number of Charge Cards in Circulation By Scheme (Thousand), 2011-2015
      • Table Greece - Charge Card Transaction Values By Scheme (EUR Million), 2011-2015
      • Table Greece - Charge Card Transaction Values By Scheme (US$ Million), 2011-2015
      • Table Greece - Personal and Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
      • Table Greece - Personal and Commercial Pay Later Card Transaction Values (EUR Billion), 2011-2020
      • Table Greece - Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 2011-2020
      • Table Greece - Number of Commercial Pay Later Cards in Circulation (Thousand), 2011-2020
      • Table Greece - Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
      • Table Greece - Commercial Pay Later Card Transaction Values (EUR Million), 2011-2020
      • Table Greece - Commercial Pay Later Card Transaction Values (US$ Million), 2011-2020
      • Table Greece - Number of Prepaid Cards in Circulation (Thousand), 2011-2020
      • Table Greece - Prepaid Card Transaction Values (EUR Million), 2011-2020
      • Table Greece - Prepaid Card Transaction Values (US$ Million), 2011-2020
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