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

Published By :

Timetric

Published Date : Jun 2016

Category :

Banking

No. of Pages : 58 Pages

Synopsis
Timetrics '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 (20112015).

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 (20162020). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together Timetrics 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
Timetrics '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 platforms 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 customers payment cards in a single location. This service is supported by Alpha Bank, Piraeus Bank, Eurobank Ergasias, Axa Insurance, Leroy Merlin, Sephora and Wind.
Table of Contents
1 Definitions and Methodology
1.1 Definitions
1.2 Methodology
2 Key Facts and Events
3 Executive Summary
4 Payment Instruments
4.1 Current Payment Environment
5 E-Commerce
5.1 E-Commerce Market Analysis
6 Alternative Payments
6.1 Alternative Payment Instruments
6.1.1 MasterPass
6.1.2 paysafecard
6.1.3 winbank wallet
6.1.4 my Alpha wallet
7 Regulations in the Cards and Payments Industry
7.1 Regulatory Framework
7.1.1 SEPA cards framework
7.1.2 Interchange fee regulation
7.2 Anti-Money Laundering (AML)
7.3 Foreign Direct Investment (FDI) Regulations
8 Analysis of Cards and Payments Industry Drivers
8.1 Demographic Drivers
8.2 Economic Drivers
8.3 Infrastructure Drivers
8.4 Business Drivers
9 Market Segmentation
9.1 Market Segmentation and Targeting
9.1.1 Consumer cards
9.1.2 Commercial cards
10 Payment Cards
10.1 Payment Cards Market Analysis
10.1.1 Volume and value of payment card transactions by type
11 Debit Cards
11.1 Debit Card Market Analysis
11.1.1 Turnover per debit card and transaction values by channel
11.1.2 Debit card scheme and issuer shares in terms of transaction value
11.1.3 Debit cards comparison
12 Pay Later Cards
12.1 Pay Later Cards Market Analysis
12.1.1 Turnover per pay later cards and transaction values by channel
12.1.2 Pay later cards scheme and issuer shares in terms of transaction value
12.1.3 Pay later cards comparison
13 Commercial Pay Later Cards
13.1 Commercial Pay Later Cards Market Analysis
13.1.1 Commercial cards comparison
14 Prepaid Cards
14.1 Prepaid Card Market Analysis
14.1.1 Prepaid cards comparison
15 Appendix
15.1 Tables
15.2 Contact Timetric
15.3 About Timetric
15.4 Timetrics Services
15.5 Disclaimer

List of Tables
Table 1: Key Definitions
Table 2: Annual Average Exchange Rate
Table 3: Greece Key Facts, 2015
Table 4: Regional Benchmarking of Greeces Payment Cards, 2015
Table 5: Greece Mode of Entry of Foreign Banks
Table 6: Cards for High-Income Consumers, 2016
Table 7: Cards for Students and the Young Population, 2016
Table 8: Cards for Shoppers, 2016
Table 9: Commercial Cards Comparison and Key Features, 2016
Table 10: Greece Visa Multi-Lateral Interchange Fees, 2016
Table 11: Greece MasterCard Consumer Card Interchange Fees, 2016
Table 12: Greece Debit Cards Comparison and Key Features, 2016
Table 13: Greece Visa Multi-Lateral Interchange Fees, 2016
Table 14: Greece MasterCard Commercial Card Interchange Fees, 2016
Table 15: Greece Gold Credit Cards Comparison and Key Features, 2016
Table 16: Greece Premium Credit Cards Comparison and Key Features, 2016
Table 17: Greece Charge Cards Comparison and Key Features, 2016
Table 18: Greece Commercial Cards Comparison and Key Features, 2016
Table 19: Greece Prepaid Cards Comparison and Key Features, 2016
Table 20: Greece Payment Instrument Transaction Values (EUR Billion), 20112015
Table 21: Greece Payment Instrument Transaction Values (US$ Billion), 20112015
Table 22: Greece Payment Instrument Transaction Volumes (Million), 20112015
Table 23: Greece Number of Payment Cards in Circulation by Type (Million), 20112020
Table 24: Greece Volume of Payment Card Transactions by Type (Million), 20112020
Table 25: Greece Value of Payment Card Transactions by Type (EUR Billion), 20112020
Table 26: Greece Value of Payment Card Transactions by Type (US$ Billion), 20112020
Table 27: Greece Number of Debit Cards in Circulation (Million), 20112020
Table 28: Greece Debit Card Transaction Volumes and Frequency by Channel, 20112020
Table 29: Greece Debit Card Total and Average Transaction Values by Channel, 20112020
Table 30: Greece Debit Card Total and Average Transaction Values by Channel, 20112020
Table 31: Greece Number of Debit Cards in Circulation By Scheme (Million), 20112015
Table 32: Greece Debit Card Transaction Values By Scheme (EUR Billion), 20112015
Table 33: Greece Debit Card Transaction Values By Scheme (US$ Billion), 20112015
Table 34: Greece Debit Card Transaction Values by Issuer (EUR Billion), 20112015
Table 35: Greece Debit Card Transaction Values by Issuer (US$ Billion), 20112015
Table 36: Greece Number of Pay Later Cards in Circulation (Million), 20112020
Table 37: Greece Pay Later Card Transaction Volumes and Frequency by Channel, 20112020
Table 38: Greece Pay Later Card Total and Average Transaction Values by Channel, 20112020
Table 39: Greece Pay Later Card Total and Average Transaction Values by Channel, 20112020
Table 40: Greece Number of Pay Later Cards in Circulation By Scheme (Thousand), 20112015
Table 41: Greece Pay Later Card Transaction Values By Scheme (EUR Million), 20112015
Table 42: Greece Pay Later Card Transaction Values By Scheme (US$ Million), 20112015
Table 43: Greece Pay Later Card Transaction Values By Issuer (EUR Billion), 20112015
Table 44: Greece Pay Later Card Transaction Values By Issuer (US$ Billion), 20112015
Table 45: Greece Number of Credit Cards in Circulation (Million), 20112020
Table 46: Greece Credit Card Transaction Volumes and Frequency by Channel, 20112020
Table 47: Greece Credit Card Total and Average Transaction Values by Channel, 20112020
Table 48: Greece Credit Card Total and Average Transaction Values by Channel, 20112020
Table 49: Greece Number of Credit Cards in Circulation By Scheme (Million), 20112015
Table 50: Greece Credit Card Transaction Values By Scheme (EUR Billion), 20112015
Table 51: Greece Credit Card Transaction Values By Scheme (US$ Billion), 20112015
Table 52: Greece Number of Charge Cards in Circulation (Thousand), 20112020
Table 53: Greece Charge Card Transaction Volumes and Frequency by Channel, 20112020
Table 54: Greece Charge Card Total and Average Transaction Values by Channel, 20112020
Table 55: Greece Charge Card Total and Average Transaction Values by Channel, 20112020
Table 56: Greece Number of Charge Cards in Circulation By Scheme (Thousand), 20112015
Table 57: Greece Charge Card Transaction Values By Scheme (EUR Million), 20112015
Table 58: Greece Charge Card Transaction Values By Scheme (US$ Million), 20112015
Table 59: Greece Personal and Commercial Pay Later Card Transaction Volumes (Million), 20112020
Table 60: Greece Personal and Commercial Pay Later Card Transaction Values (EUR Billion), 20112020
Table 61: Greece Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 20112020
Table 62: Greece Number of Commercial Pay Later Cards in Circulation (Thousand), 20112020
Table 63: Greece Commercial Pay Later Card Transaction Volumes (Million), 20112020
Table 64: Greece Commercial Pay Later Card Transaction Values (EUR Million), 20112020
Table 65: Greece Commercial Pay Later Card Transaction Values (US$ Million), 20112020
Table 66: Greece Number of Prepaid Cards in Circulation (Thousand), 20112020
Table 67: Greece Prepaid Card Transaction Values (EUR Million), 20112020
Table 68: Greece Prepaid Card Transaction Values (US$ Million), 20112020

List of Figures
Figure 1: Greece Payment Instrument Shares by Transaction Value (%), 2011 vs 2015
Figure 2: Greece Payment Instrument Shares by Transaction Volume (%), 2011 vs 2015
Figure 3: Greece E-Commerce Value (US$ Billion) and Payment Types (%)
Figure 4: Greece Total Population and Structure
Figure 5: Greece Economic Indicators
Figure 6: Greece Number of ATMs and POS Terminals
Figure 7: Greece Real Household Consumption and Outbound Tourist Expenditure, 20112015
Figure 8: Greece Segmentation by Card Type, 2016
Figure 9: Greece Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 20112020
Figure 10: Greece Volume and Value of Payment Card Transactions by Type (%), 20112020
Figure 11: Greece Debit Card Penetration and Number of Debit Cards in Circulation, 20112020
Figure 12: Greece Turnover Per Debit Card and Transaction Values by Channel, 20112020
Figure 13: Greece Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 14: Greece Pay Later Cards Penetration and Number of Pay Later Cards in Circulation, 20112020
Figure 15: Greece Turnover Per Pay Later Cards and Transaction Values by Channel, 20112020
Figure 16: Greece Pay Later Cards Scheme and Issuer Shares in Terms of Transaction Value (%), 2015
Figure 17: Greece Pay Later Commercial vs Personal Cards, Transaction Volumes and Values (%), 20112020
Figure 18: Greece Number of Commercial Cards in Circulation, Transaction Value and Volume, 20112020
Figure 19: Greece Number of Prepaid Cards in Circulation and Transaction Values, 20112020

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