Payment Card Year Books

Greece 2019/2020

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Payment Organisations

DIAS, Hellenic Bankers Association

Domestic Card Brand


Market Structure

Greece has a cash-based economy. There were only 28.0 card payments per capita, the third lowest in the EEA region.

ATM cash withdrawals by value are higher than the total card payments value: 1.5-times by number and 4.5-times by value.

The Greek crisis affected card usage from 2009. Card numbers declined to 13.2 million in 2014, but recovered from 2015.

For the first time in Greek history, from 2015 there are more debit card payments than credit card payments by number and by value. The extremely high growth rates of card use in 2015 and 2016 is a consequence of the imposition of capital controls in the summer of 2015 which continued in 2016.

NBG, the largest Greek bank, was historically the main MasterCard issuer while Alpha Bank was the main VISA issuer. However, dual card brand issuance is common use.

Significant restructuring of the bank sector: four large bank groups remained: Alpha Bank, Piraeus Bank, NBG and Eurobank.

Emerging Open Banking ecosystem.

Notable Market Trends

Contactless cards and terminals, MasterPass, Mybank, HCE NFC

Statistical Key Figures for 2018 provided in this profile:

UPDATED: tables with card business data 2014-2018; growth rates: Y-o-Y, CAGR
Population, Cards per Capita, Card Value per Capita
Debit Cards, Credit/Delayed Debit Cards, Total Cards
Card payments by number and by value, ATV per card, payments per card/year
ATMs, POS terminals, ATMs/POS terminals per 1 million capita
ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
POS payments by number/by value, ATV per POS payment, TXs per POS/month
Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
Issued Card brands by individual major issuer bank
Accepted card brands by individual major acquirer
Drill down into the debit card use and credit cards use details

Product information

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1.1 last updated 13th January 2020