BUSINESS

Cash lottery for card users on 22 islands

By Evgenia Tzortzi

The government is planning to offer a cash return incentive for Greeks who as of July 1 use debit or credit cards on certain islands for purchases above a threshold of 50 or 70 euros.

The measure is expected to be implemented on a pilot basis on 22 Greek islands where some 50,000 PoS (point of sale) card terminals will cover virtually all enterprises.

All cardholders who make transactions over a certain level will be automatically entered into a form of lottery, with the winners’ cash returns being deposited directly into their bank accounts.

The Finance Ministry calculates that if the cash return amounts to 2 percent, every week there will be 19,230 consumers who get back part of the money paid during a specific transaction, at a cost to the state of 20 million euros annually. The measure will not concern foreign tourists at this stage.

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