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Country Report

Credit Card Transactions in

Credit Cards in Greece

23 pages, Nov 2018

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Surge in card usage also benefits credit cards

The rise of card usage, triggered by the introduction of capital controls in 2015, which forced cash-oriented Greeks to massively adopt card usage, is continuing to support credit cards, even though debit cards have been the main beneficiaries. Government regulation regarding non-taxable income based on card purchases and the mandatory installation of POS terminals by merchants and professionals are further driving card usage.

Revival and future potential but under different terms

The advent of the Greek crisis in 2009 caused the credit card category to shrink as Greeks were forced to adopt a much more conservative stance, abandoning their previous “buy now, pay later” mentality amidst a collapse in disposable income and widespread uncertainty. From the supply side, booming insolvency and non-performing card lending led to the banks applying stricter policies, rejecting the majority of applications, cancelling inactive credit cards and reducing credit limits.

Credit card usage is evolving in different directions

Credit card usage is evolving, with the value of transactions per active card and the number of transactions per card increasing in 2018, and expected to continue to rise over the forecast period, while spend per transaction is following the opposite course. This trend demonstrates that consumers are using their cards more frequently to make smaller purchases, rather than as a tool for occasional, big-ticket purchases.

COMPETITIVE LANDSCAPE

A rather stable competitive landscape

2017 saw little change in the competitive landscape in credit cards, which continued to be led by four systemically important banks, namely Alpha Bank, Piraeus Bank, EFG Eurobank and the National Bank of Greece. Visa remained the leading operator of credit cards in Greece in terms of both number of cards and transactions, followed by Mastercard and, at a distance, American Express.

All banks offer loyalty schemes and co-branded cards

Central elements of the banks’ attempts to retain and grow their share are loyalty programmes and reward schemes, as well as co-branded cards with supermarkets, beauty specialist retailers, sports teams, shopping centres, airlines and telecoms providers. Examples include Piraeus Bank’s “Yellow” loyalty reward programme, along with various specialist loyalty schemes (Miles & More with Aegean Airlines and AB Plus Mastercard with AB Supermarkets); Eurobank’s “Return” scheme and co-branded cards with Cosmote, EKO and Masoutis; National Bank of Greece’s “go4more” reward scheme and “Toyota” Visa; and Alpha Bank’s “Bonus” scheme and Vodafone, Wind and Aegean co-branded cards.

Low-profile promotions for credit cards

After a lesson learnt the hard way during the crisis, Greek banks are keeping a low profile with regard to the promotion of their credit cards. Their focus is largely on the expanding category of debit cards, with little interest being shown in promoting the use of credit cards.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Credit Card Transactions industry in Greece with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Credit Card Transactions industry in Greece, our research will save you time and money while empowering you to make informed, profitable decisions.

The Credit Card Transactions in Greece market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Credit Card Transactions in Greece?
What are the major operators and issuers in Greece?
What is the current state and expected evolution of consumer payment preference?
What payment instrument offers the highest growth potential?
What strategies and positioning have consumer finance companies utilized to win in the market?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Credit Card Transactions in Greece, originate from our database within our Consumer Finance market share and market size database

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Charge Cards in Greece - Category analysis

Charge Cards in Greece - Company Profile

HEADLINES

PROSPECTS

Rise in card usage benefits charge cards

Used by smaller businesses, charge cards face competition from commercial debit cards

Weak but positive outlook for commercial charge cards

COMPETITIVE LANDSCAPE

Alpha Bank the exclusive issuer of charge cards in Greece

American Express remains the leading operator in charge cards

Reward schemes and co-branded cards

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2013-2018
Table 2 Charge Cards Transactions 2013-2018
Table 3 Charge Cards in Circulation: % Growth 2013-2018
Table 4 Charge Cards Transactions: % Growth 2013-2018
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2013-2018
Table 6 Commercial Charge Cards Transactions 2013-2018
Table 7 Commercial Charge Cards in Circulation: % Growth 2013-2018
Table 8 Commercial Charge Cards Transactions: % Growth 2013-2018
Table 9 Personal Charge Cards: Number of Cards in Circulation 2013-2018
Table 10 Personal Charge Cards Transactions 2013-2018
Table 11 Personal Charge Cards in Circulation: % Growth 2013-2018
Table 12 Personal Charge Cards Transactions: % Growth 2013-2018
Table 13 Charge Cards: Number of Cards by Issuer 2013-2017
Table 14 Charge Cards: Number of Cards by Operator 2013-2017
Table 15 Charge Cards Payment Transaction Value by Issuer 2013-2017
Table 16 Charge Cards Payment Transaction Value by Operator 2013-2017
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2013-2017
Table 18 Commercial Charge Cards: Number of Cards by Operator 2013-2017
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2013-2017
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2013-2017
Table 21 Personal Charge Cards: Number of Cards by Issuer 2013-2017
Table 22 Personal Charge Cards: Number of Cards by Operator 2013-2017
Table 23 Personal Charge Cards Transaction Value by Issuer 2013-2017
Table 24 Personal Charge Cards Transaction Value by Operator 2013-2017
Table 25 Forecast Charge Cards: Number of Cards in Circulation 2018-2023
Table 26 Forecast Charge Cards Transactions 2018-2023
Table 27 Forecast Charge Cards in Circulation: % Growth 2018-2023
Table 28 Forecast Charge Cards Transactions: % Growth 2018-2023
Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2018-2023
Table 30 Forecast Commercial Charge Cards Transactions 2018-2023
Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2018-2023
Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2018-2023
Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2018-2023
Table 34 Forecast Personal Charge Cards Transactions 2018-2023
Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2018-2023
Table 36 Forecast Personal Charge Cards Transactions: % Growth 2018-2023

Credit Cards in Greece - Category analysis

Credit Cards in Greece - Company Profile

HEADLINES

PROSPECTS

Surge in card usage also benefits credit cards

Revival and future potential but under different terms

Credit card usage is evolving in different directions

COMPETITIVE LANDSCAPE

A rather stable competitive landscape

All banks offer loyalty schemes and co-branded cards

Low-profile promotions for credit cards

CATEGORY DATA

Table 37 Credit Cards: Number of Cards in Circulation 2013-2018
Table 38 Credit Cards Transactions 2013-2018
Table 39 Credit Cards in Circulation: % Growth 2013-2018
Table 40 Credit Cards Transactions: % Growth 2013-2018
Table 41 Commercial Credit Cards: Number of Cards in Circulation 2013-2018
Table 42 Commercial Credit Cards Transactions 2013-2018
Table 43 Commercial Credit Cards in Circulation: % Growth 2013-2018
Table 44 Commercial Credit Cards Transactions: % Growth 2013-2018
Table 45 Personal Credit Cards: Number of Cards in Circulation 2013-2018
Table 46 Personal Credit Cards Transactions 2013-2018
Table 47 Personal Credit Cards in Circulation: % Growth 2013-2018
Table 48 Personal Credit Cards Transactions: % Growth 2013-2018
Table 49 Credit Cards: Number of Cards by Issuer 2013-2017
Table 50 Credit Cards: Number of Cards by Operator 2013-2017
Table 51 Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 52 Credit Cards Payment Transaction Value by Operator 2013-2017
Table 53 Commercial Credit Cards: Number of Cards by Issuer 2013-2017
Table 54 Commercial Credit Cards: Number of Cards by Operator 2013-2017
Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2013-2017
Table 57 Personal Credit Cards: Number of Cards by Issuer 2013-2017
Table 58 Personal Credit Cards: Number of Cards by Operator 2013-2017
Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2013-2017
Table 60 Personal Credit Cards Payment Transaction Value by Operator 2013-2017
Table 61 Forecast Credit Cards: Number of Cards in Circulation 2018-2023
Table 62 Forecast Credit Cards Transactions 2018-2023
Table 63 Forecast Credit Cards in Circulation: % Growth 2018-2023
Table 64 Forecast Credit Cards Transactions: % Growth 2018-2023
Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 66 Forecast Commercial Credit Cards Transactions 2018-2023
Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2018-2023
Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 70 Forecast Personal Credit Cards Transactions 2018-2023
Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2018-2023
Table 72 Forecast Personal Credit Cards Transactions: % Growth 2018-2023

Debit Cards in Greece - Category analysis

Debit Cards in Greece - Company Profile

HEADLINES

PROSPECTS

Capital controls and regulation continue to drive debit card transactions

Debit cards become the leading payment tool in e-commerce

Usage of commercial debit cards low but on the rise

COMPETITIVE LANDSCAPE

Piraeus Bank leads debit cards

Competition between systemic banks and multiple reward schemes

Mastercard outperforms Visa

CATEGORY DATA

Table 73 Debit Cards: Number of Cards in Circulation 2013-2018
Table 74 Debit Cards Transactions 2013-2018
Table 75 Debit Cards in Circulation: % Growth 2013-2018
Table 76 Debit Cards Transactions: % Growth 2013-2018
Table 77 Debit Cards: Number of Cards by Issuer 2013-2017
Table 78 Debit Cards: Number of Cards by Operator 2013-2017
Table 79 Debit Cards Payment Transaction Value by Issuer 2013-2017
Table 80 Debit Cards Payment Transaction Value by Operator 2013-2017
Table 81 Forecast Debit Cards: Number of Cards in Circulation 2018-2023
Table 82 Forecast Debit Cards Transactions 2018-2023
Table 83 Forecast Debit Cards in Circulation: % Growth 2018-2023
Table 84 Forecast Debit Cards Transactions: % Growth 2018-2023

Pre-Paid Cards in Greece - Category analysis

Pre-Paid Cards in Greece - Company Profile

HEADLINES

PROSPECTS

Social Solidarity Income cards serve to expand the cardholder base

Rise of online transactions supports growth of open loop pre-paid cards

Proliferation of public transportation cards

COMPETITIVE LANDSCAPE

Piraeus Bank and Visa lead open loop pre-paid cards

Variety of products offered by all players

Sophisticated features and co-branded cards

CATEGORY DATA

Table 85 Pre-paid Cards: Number of Cards in Circulation 2013-2018
Table 86 Pre-paid Cards Transactions 2013-2018
Table 87 Pre-paid Cards in Circulation: % Growth 2013-2018
Table 88 Pre-paid Cards Transactions: % Growth 2013-2018
Table 89 Closed Loop Pre-paid Cards Transactions 2013-2018
Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2015-2018
Table 91 Open Loop Pre-paid Cards Transactions 2013-2018
Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2013-2018
Table 93 Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 94 Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 95 Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 96 Pre-paid Cards Transaction Value by Operator 2013-2017
Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 98 Closed Loop Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 99 Closed Loop Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 100 Closed Loop Pre-paid Cards Transaction Value by Operator 2013-2017
Table 101 Open Loop Pre-paid Cards: Number of Cards by Issuer 2013-2017
Table 102 Open Loop Pre-paid Cards: Number of Cards by Operator 2013-2017
Table 103 Open Loop Pre-paid Cards Transaction Value by Issuer 2013-2017
Table 104 Open Loop Pre-paid Cards Transaction Value by Operator 2013-2017
Table 105 Forecast Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 106 Forecast Pre-paid Cards Transactions 2018-2023
Table 107 Forecast Pre-paid Cards in Circulation: % Growth 2018-2023
Table 108 Forecast Pre-paid Cards Transactions: % Growth 2018-2023
Table 109 Forecast Closed Loop Pre-paid Cards Transactions 2018-2023
Table 110 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 111 Forecast Open Loop Pre-paid Cards Transactions 2018-2023
Table 112 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2018-2023

Store Cards in Greece - Category analysis

Store Cards in Greece - Company Profile

PROSPECTS

Financial Cards and Payments in Greece - Industry Overview

EXECUTIVE SUMMARY

Card payment transactions continue to record strong growth in 2018

Electronic payments on the rise but cash remains king

Rapid growth of contactless payments and the rise of digital wallets

New regulations, innovation and the emergence of new players

Further growth anticipated over the forecast period

MARKET INDICATORS

Table 113 Number of POS Terminals: Units 2013-2018
Table 114 Number of ATMs: Units 2013-2018
Table 115 Value Lost to Fraud 2013-2018
Table 116 Card Expenditure by Location 2017
Table 117 Financial Cards in Circulation by Type: % Number of Cards 2013-2018
Table 118 Domestic versus Foreign Spend 2018

MARKET DATA

Table 119 Financial Cards by Category: Number of Cards in Circulation 2013-2018
Table 120 Financial Cards by Category: Number of Accounts 2013-2018
Table 121 Financial Cards Transactions by Category: Value 2013-2018
Table 122 Financial Cards by Category: Number of Transactions 2013-2018
Table 123 Consumer Payments by Category: Value 2013-2018
Table 124 Consumer Payments by Category: Number of Transactions 2013-2018
Table 125 M-Commerce by Category: Value 2013-2018
Table 126 M-Commerce by Category: % Value Growth 2013-2018
Table 127 Financial Cards: Number of Cards by Issuer 2013-2017
Table 128 Financial Cards: Number of Cards by Operator 2013-2017
Table 129 Financial Cards: Card Payment Transactions Value by Operator 2013-2017
Table 130 Financial Cards: Card Payment Transactions Value by Issuer 2013-2017
Table 131 Forecast Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 132 Forecast Financial Cards by Category: Number of Accounts 2018-2023
Table 133 Forecast Financial Cards Transactions by Category: Value 2018-2023
Table 134 Forecast Financial Cards by Category: Number of Transactions 2018-2023
Table 135 Forecast Consumer Payments by Category: Value 2018-2023
Table 136 Forecast Consumer Payments by Category: Number of Transactions 2018-2023
Table 137 Forecast M-Commerce by Category: Value 2018-2023
Table 138 Forecast M-Commerce by Category: % Value Growth 2018-2023

Megatrends

Country Report

Credit Cards in Greece

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Surge in card usage also benefits credit cards

Revival and future potential but under different terms

Credit card usage is evolving in different directions

COMPETITIVE LANDSCAPE

A rather stable competitive landscape

All banks offer loyalty schemes and co-branded cards

Low-profile promotions for credit cards

Overview

Why buy this report?

SAMPLES

Delivery Method

Overview

Why buy this report?

Want to find out more about this report?

Table of Contents

Charge Cards in Greece - Category analysis

Charge Cards in Greece - Company Profile

HEADLINES

PROSPECTS

Rise in card usage benefits charge cards

Used by smaller businesses, charge cards face competition from commercial debit cards

Weak but positive outlook for commercial charge cards

COMPETITIVE LANDSCAPE

Alpha Bank the exclusive issuer of charge cards in Greece

American Express remains the leading operator in charge cards

Reward schemes and co-branded cards

CATEGORY DATA

Credit Cards in Greece - Category analysis

Credit Cards in Greece - Company Profile

HEADLINES

PROSPECTS

Surge in card usage also benefits credit cards

Revival and future potential but under different terms

Credit card usage is evolving in different directions

COMPETITIVE LANDSCAPE

A rather stable competitive landscape

All banks offer loyalty schemes and co-branded cards

Low-profile promotions for credit cards

CATEGORY DATA

Debit Cards in Greece - Category analysis

Debit Cards in Greece - Company Profile

HEADLINES

PROSPECTS

Capital controls and regulation continue to drive debit card transactions

Debit cards become the leading payment tool in e-commerce

Usage of commercial debit cards low but on the rise

COMPETITIVE LANDSCAPE

Piraeus Bank leads debit cards

Competition between systemic banks and multiple reward schemes

Mastercard outperforms Visa

CATEGORY DATA

Pre-Paid Cards in Greece - Category analysis

Pre-Paid Cards in Greece - Company Profile

HEADLINES

PROSPECTS

Social Solidarity Income cards serve to expand the cardholder base

Rise of online transactions supports growth of open loop pre-paid cards

Proliferation of public transportation cards

COMPETITIVE LANDSCAPE

Piraeus Bank and Visa lead open loop pre-paid cards

Variety of products offered by all players

Sophisticated features and co-branded cards

CATEGORY DATA

Store Cards in Greece - Category analysis

Store Cards in Greece - Company Profile

PROSPECTS

Financial Cards and Payments in Greece - Industry Overview

EXECUTIVE SUMMARY

Card payment transactions continue to record strong growth in 2018

Electronic payments on the rise but cash remains king

Rapid growth of contactless payments and the rise of digital wallets

New regulations, innovation and the emergence of new players

Further growth anticipated over the forecast period