BUSINESS

Plastic money users could earn free credit on the spot

TAGS: Taxation

Taxpayers who use their credit and debit cards for transactions will have to wait until March for the Finance Ministry to issue its decision on the various state lotteries and prize draws.

Deputy Minister Katerina Papanatsiou noted however that although the decision will not be released until the end of March, the draws will include card transactions conducted since January 1.

Sources say that the government’s plan does not include on-the-spot cash returns but rather free credit for use in stores, as the ministry’s aim is to see the prize money return to the market.

Papanatsiou explained that as soon as buyers make a card transaction they will immediately be notified through the card terminal if they are a winner and, if so, how much free credit they have won, while in other cases there will be weekly or monthly draws. The amount set aside for such incentives comes to 12 million euros for 2017.

According to the plan, which has not yet been finalized technically, 50 lucky consumers across the country will win free credit each day. All receipts for card payments will be entered into a draw with the prizes being in the form of free credit.

In the coming days the ministry will announce which enterprises will be obliged to have card terminals.

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