BUSINESS

Greece third last in EU for credit card use

Greeks are among those least likely to use credit cards in the European Union, according to a European Central Bank report published on Tuesday.

Greece came third last both in terms of the frequency of use and the total value of payments made by credit card, according to the ECB.

In 2012, Greeks used credit cards an average of just seven times. The EU average was 79. Greeks spent an average of about 500 euros whereas the average for the whole of the EU was 4,055.

Credit cards are now the most popular method of payment in the EU. In 2012 there were 40 billion card payments, around 26 billion credit transfers and 23 billion direct debits in Europe.

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