BUSINESS

Transactions with cards keep on rising

EVGENIA TZORTZI

TAGS: Economy

The value of card transactions in Greece in the first four months of the year totaled 5.5 billion euros, posting an annual 22 percent annual increase according to estimates by Cardlink presented at the Digital Finance Forum last week.

This came after a year when 320 million transactions carried out using credit and debit cards added up to some 19 billion euros.

The data concern transactions conducted by Greek citizens as well as foreign citizens visiting this country. For the first four months of 2017, when tourism traffic was at low levels, the increase in transactions illustrated the momentum that plastic has gained in Greece following its obligatory use for taxpayers to secure an income tax discount. It also illustrates its possible contribution to the revelation of undeclared transactions.

April was the best month in transactions, even overtaking December, which had just posted a new record. The Cardlink network, which represents some 50 percent of card terminals, recorded an 83 percent year-on-year increase in the number of transactions, after a 110 percent rise in 2016 and 89 percent growth in 2015, when the capital controls were imposed.
 

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