Executive Summary

Oct 2019
PROSPECTS
Open loop pre-paid cards dominates transaction value driven by popularity of general purpose reloadable cards

Despite increasing enthusiasm for internet retailing and the rising use of card payments over cash on delivery, a traditional preference amongst Greek consumers, the use of open loop pre-paid cards online (cardholder not present) remained much lower than physically presenting cards at a POS, due to the growing popularity of using debit and credit cards for shopping online, despite pre-paid cards being a safe payment tool as they are not linked to a personal account. The use of pre-paid cards online is also hampered by strict regulation such as terrorism and money laundering.

Closed loop pre-paid cards boosted by rapid uptake of transportation cards

The newer category of closed loop pre-paid cards, which emerged in Greece mid-review period, has continued to rapidly gain in popularity with the number of cards in circulation overtaking those of open loop pre-paid cards by 2017. This was due to the adoption of the new ATH.

Government benefit cards supported by expansion of KEA cards

Government benefit cards held the remaining significant share of open loop pre-paid cards in 2019, although it continued to lose ground to general purpose reloadable cards. Demand for government benefit cards are mainly linked to the Social Solidarity Income (KEA) cards, with the last update of this programme occurring in June 2019 with KEA cards being reloaded during this period.

COMPETITIVE LANDSCAPE
Piraeus remains leading issuer of open loop but Oasa gains overall leadership of pre-paid cards in circulation due to ATH.ENA transportation cards

Piraeus Bank remained the leading issuer of open loop pre-paid cards in 2018, followed by National Bank of Greece with both offering KEA cards. Although the latter was the initial issuer of KEA (Visa) cards, Piraeus Bank was quick to gain ground offering a wider portfolio of plastic and virtual cards.

Alpha bank gains share in closed loop with new launch

Despite some stagnation in terms of using pre-paid cards online, the concept of virtual cards could gain some dynamism with the launch of the innovative Bleep card in 2018 which is powered by Alpha Bank, and operated by Mastercard. It was awarded “Product of the Year 2019” by and IRI independent consumer survey.

Loyalty and reward schemes popular strategy to gain consumers’ attention in competitive landscape

As the competitive landscape of pre-paid cards intensifies, banks continue to look to offering sophisticated features such as flexibility of use, variety of choices regarding loading the cards, digital monitoring of transactions and reward schemes to attract consumers such as Cosmote Prepaid Mastercard, which enables the user to earn data for their mobile phones when they make daily purchases using the card or they can even transfer the extra data to friends or family. Co-branded cards are another strategy with Piraeus Prepaid AB Mastercard, which is part of a loyalty reward programme that offers EUR6 vouchers to consumers when they shop at the leading chained supermarket in Greece, AB.

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Pre-Paid Cards in Greece

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Overview

Discover the latest market trends and uncover sources of future market growth for the Pre-Paid 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 Pre-Paid Transactions industry in Greece, our research will save you time and money while empowering you to make informed, profitable decisions.

The Pre-Paid 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 Pre-Paid 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?
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  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

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

Charge Cards in Greece - Category analysis

Charge Cards in Greece - Company Profile

HEADLINES

PROSPECTS

Strong decline for personal charge cards with withdrawal of American Express
Commercial charge cards dominates category
Immaturity of commercial charge cards could offer further potential for growth with investment

COMPETITIVE LANDSCAPE

Alpha Bank remains sole issuer of charge cards
Mastercard to take over personal charge card portfolio but future remains in doubt
Visa and Diners likely to head up commercial charge cards following departure of American Express

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2014-2019
Table 2 Charge Cards Transactions 2014-2019
Table 3 Charge Cards in Circulation: % Growth 2014-2019
Table 4 Charge Cards Transactions: % Growth 2014-2019
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2014-2019
Table 6 Commercial Charge Cards Transactions 2014-2019
Table 7 Commercial Charge Cards in Circulation: % Growth 2014-2019
Table 8 Commercial Charge Cards Transactions: % Growth 2014-2019
Table 9 Personal Charge Cards: Number of Cards in Circulation 2014-2019
Table 10 Personal Charge Cards Transactions 2014-2019
Table 11 Personal Charge Cards in Circulation: % Growth 2014-2019
Table 12 Personal Charge Cards Transactions: % Growth 2014-2019
Table 13 Charge Cards: Number of Cards by Issuer 2014-2018
Table 14 Charge Cards: Number of Cards by Operator 2014-2018
Table 15 Charge Cards Payment Transaction Value by Issuer 2014-2018
Table 16 Charge Cards Payment Transaction Value by Operator 2014-2018
Table 17 Commercial Charge Cards: Number of Cards by Issuer 2014-2018
Table 18 Commercial Charge Cards: Number of Cards by Operator 2014-2018
Table 19 Commercial Charge Cards Payment Transaction Value by Issuer 2014-2018
Table 20 Commercial Charge Cards Payment Transaction Value by Operator 2014-2018
Table 21 Personal Charge Cards: Number of Cards by Issuer 2014-2018
Table 22 Personal Charge Cards: Number of Cards by Operator 2014-2018
Table 23 Personal Charge Cards Transaction Value by Issuer 2014-2018
Table 24 Personal Charge Cards Transaction Value by Operator 2014-2018
Table 25 Forecast Charge Cards: Number of Cards in Circulation 2019-2024
Table 26 Forecast Charge Cards Transactions 2019-2024
Table 27 Forecast Charge Cards in Circulation: % Growth 2019-2024
Table 28 Forecast Charge Cards Transactions: % Growth 2019-2024
Table 29 Forecast Commercial Charge Cards: Number of Cards in Circulation 2019-2024
Table 30 Forecast Commercial Charge Cards Transactions 2019-2024
Table 31 Forecast Commercial Charge Cards in Circulation: % Growth 2019-2024
Table 32 Forecast Commercial Charge Cards Transactions: % Growth 2019-2024
Table 33 Forecast Personal Charge Cards: Number of Cards in Circulation 2019-2024
Table 34 Forecast Personal Charge Cards Transactions 2019-2024
Table 35 Forecast Personal Charge Cards in Circulation: % Growth 2019-2024
Table 36 Forecast Personal Charge Cards Transactions: % Growth 2019-2024

Credit Cards in Greece - Category analysis

Credit Cards in Greece - Company Profile

HEADLINES

PROSPECTS

Increasing familiarity with card usage encourages greater interest in credit cards for smaller purchases
More cautious approach by both banks and consumers regarding issuing of and adoption of credit cards
Strong growth performance for commercial credit cards as banks target smaller companies to expand target audience

COMPETITIVE LANDSCAPE

No change in rankings but American Express causes problems for Alpha bank in commercial credit cards
Further expansion of portfolio for Piraeus Bank to capitalise on growing demand for commercial credit cards
Rewards and loyalty schemes incentivise greater use of credit cards

CATEGORY DATA

Table 37 Credit Cards: Number of Cards in Circulation 2014-2019
Table 38 Credit Cards Transactions 2014-2019
Table 39 Credit Cards in Circulation: % Growth 2014-2019
Table 40 Credit Cards Transactions: % Growth 2014-2019
Table 41 Commercial Credit Cards: Number of Cards in Circulation 2014-2019
Table 42 Commercial Credit Cards Transactions 2014-2019
Table 43 Commercial Credit Cards in Circulation: % Growth 2014-2019
Table 44 Commercial Credit Cards Transactions: % Growth 2014-2019
Table 45 Personal Credit Cards: Number of Cards in Circulation 2014-2019
Table 46 Personal Credit Cards Transactions 2014-2019
Table 47 Personal Credit Cards in Circulation: % Growth 2014-2019
Table 48 Personal Credit Cards Transactions: % Growth 2014-2019
Table 49 Credit Cards: Number of Cards by Issuer 2014-2018
Table 50 Credit Cards: Number of Cards by Operator 2014-2018
Table 51 Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 52 Credit Cards Payment Transaction Value by Operator 2014-2018
Table 53 Commercial Credit Cards: Number of Cards by Issuer 2014-2018
Table 54 Commercial Credit Cards: Number of Cards by Operator 2014-2018
Table 55 Commercial Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 56 Commercial Credit Cards Payment Transaction Value by Operator 2014-2018
Table 57 Personal Credit Cards: Number of Cards by Issuer 2014-2018
Table 58 Personal Credit Cards: Number of Cards by Operator 2014-2018
Table 59 Personal Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 60 Personal Credit Cards Payment Transaction Value by Operator 2014-2018
Table 61 Forecast Credit Cards: Number of Cards in Circulation 2019-2024
Table 62 Forecast Credit Cards Transactions 2019-2024
Table 63 Forecast Credit Cards in Circulation: % Growth 2019-2024
Table 64 Forecast Credit Cards Transactions: % Growth 2019-2024
Table 65 Forecast Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 66 Forecast Commercial Credit Cards Transactions 2019-2024
Table 67 Forecast Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 68 Forecast Commercial Credit Cards Transactions: % Growth 2019-2024
Table 69 Forecast Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 70 Forecast Personal Credit Cards Transactions 2019-2024
Table 71 Forecast Personal Credit Cards in Circulation: % Growth 2019-2024
Table 72 Forecast Personal Credit Cards Transactions: % Growth 2019-2024

Debit Cards in Greece - Category analysis

Debit Cards in Greece - Company Profile

HEADLINES

PROSPECTS

Ongoing strong performance by debit cards driven by increasing popularity of contactless and online payments
Government considers incentives to encourage higher usage of debit cards
High growth for commercial debit cards from a low base

COMPETITIVE LANDSCAPE

Static competitive landscape amongst leading banks
Banks’ rewards schemes offer incentive to consumers to use their debit cards
Dynamic Mastercard continues to outperform Visa

CATEGORY DATA

Table 73 Debit Cards: Number of Cards in Circulation 2014-2019
Table 74 Debit Cards Transactions 2014-2019
Table 75 Debit Cards in Circulation: % Growth 2014-2019
Table 76 Debit Cards Transactions: % Growth 2014-2019
Table 77 Debit Cards: Number of Cards by Issuer 2014-2018
Table 78 Debit Cards: Number of Cards by Operator 2014-2018
Table 79 Debit Cards Payment Transaction Value by Issuer 2014-2018
Table 80 Debit Cards Payment Transaction Value by Operator 2014-2018
Table 81 Forecast Debit Cards: Number of Cards in Circulation 2019-2024
Table 82 Forecast Debit Cards Transactions 2019-2024
Table 83 Forecast Debit Cards in Circulation: % Growth 2019-2024
Table 84 Forecast Debit Cards Transactions: % Growth 2019-2024

Pre-Paid Cards in Greece - Category analysis

Pre-Paid Cards in Greece - Company Profile

HEADLINES

PROSPECTS

Open loop pre-paid cards dominates transaction value driven by popularity of general purpose reloadable cards
Closed loop pre-paid cards boosted by rapid uptake of transportation cards
Government benefit cards supported by expansion of KEA cards

COMPETITIVE LANDSCAPE

Piraeus remains leading issuer of open loop but Oasa gains overall leadership of pre-paid cards in circulation due to ATH.ENA transportation cards
Alpha bank gains share in closed loop with new launch
Loyalty and reward schemes popular strategy to gain consumers’ attention in competitive landscape

CATEGORY DATA

Table 85 Pre-paid Cards: Number of Cards in Circulation 2014-2019
Table 86 Pre-paid Cards Transactions 2014-2019
Table 87 Pre-paid Cards in Circulation: % Growth 2014-2019
Table 88 Pre-paid Cards Transactions: % Growth 2014-2019
Table 89 Closed Loop Pre-paid Cards Transactions 2014-2019
Table 90 Closed Loop Pre-paid Cards Transactions: % Growth 2015-2019
Table 91 Open Loop Pre-paid Cards Transactions 2014-2019
Table 92 Open Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 93 Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 94 Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 95 Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 96 Pre-paid Cards Transaction Value by Operator 2014-2018
Table 97 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 98 Closed Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 99 Closed Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 100 Closed Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 101 Open Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 102 Open Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 103 Open Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 104 Open Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 105 Forecast Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 106 Forecast Pre-paid Cards Transactions 2019-2024
Table 107 Forecast Pre-paid Cards in Circulation: % Growth 2019-2024
Table 108 Forecast Pre-paid Cards Transactions: % Growth 2019-2024
Table 109 Forecast Closed Loop Pre-paid Cards Transactions 2019-2024
Table 110 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 111 Forecast Open Loop Pre-paid Cards Transactions 2019-2024
Table 112 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2019-2024

Store Cards in Greece - Category analysis

Store Cards in Greece - Company Profile

PROSPECTS

Financial Cards and Payments in Greece - Industry Overview

EXECUTIVE SUMMARY

Card usage continues to gain in popularity driven by debit cards
PSD2 is likely to shake up payment landscape and break up monopoly of major banks
Contactless payments and m-commerce offer innovative payment methods for tech-savvy consumers
Major banks could experience increase competition from fintech companies
M-commerce to double in value over forecast period as mobile proximity payments comes to the fore

MARKET INDICATORS

Table 113 Number of POS Terminals: Units 2014-2019
Table 114 Number of ATMs: Units 2014-2019
Table 115 Value Lost to Fraud 2014-2019
Table 116 Card Expenditure by Location 2019
Table 117 Financial Cards in Circulation by Type: % Number of Cards 2014-2019
Table 118 Domestic versus Foreign Spend 2019

MARKET DATA

Table 119 Financial Cards by Category: Number of Cards in Circulation 2014-2019
Table 120 Financial Cards by Category: Number of Accounts 2014-2019
Table 121 Financial Cards Transactions by Category: Value 2014-2019
Table 122 Financial Cards by Category: Number of Transactions 2014-2019
Table 123 Consumer Payments by Category: Value 2014-2019
Table 124 Consumer Payments by Category: Number of Transactions 2014-2019
Table 125 M-Commerce by Category: Value 2014-2019
Table 126 M-Commerce by Category: % Value Growth 2014-2019
Table 127 Financial Cards: Number of Cards by Issuer 2014-2018
Table 128 Financial Cards: Number of Cards by Operator 2014-2018
Table 129 Financial Cards: Card Payment Transactions Value by Operator 2014-2018
Table 130 Financial Cards: Card Payment Transactions Value by Issuer 2014-2018
Table 131 Forecast Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 132 Forecast Financial Cards by Category: Number of Accounts 2019-2024
Table 133 Forecast Financial Cards Transactions by Category: Value 2019-2024
Table 134 Forecast Financial Cards by Category: Number of Transactions 2019-2024
Table 135 Forecast Consumer Payments by Category: Value 2019-2024
Table 136 Forecast Consumer Payments by Category: Number of Transactions 2019-2024
Table 137 Forecast M-Commerce by Category: Value 2019-2024
Table 138 Forecast M-Commerce by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources