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

Monday, November 21, 2016 23:37
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Publisher’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).

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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.

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The report brings together Publisher’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.

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Report Summary

Publisher’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.

Report 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.

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.

Reason 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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