Remote debit and credit card payments experienced remarkable growth, with increases of more than 70% and 100%, respectively, since the beginning of the pandemic. With the implementation of measures against the pandemic that was happening, online transactions witnessed a significant surge, while traditional in-person transactions were limited.
Greeks take up card payments, moving towards a more cashless future.
Public
Greece
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
1042
Content accuracy validation date:
24.05.2023
Content accuracy validation time:
09:57h
Even after the restrictions were eased, the use of payment cards continued at unprecedented levels. The convenience and flexibility offered by online card payments have been key factors driving this upward trend, particularly since 2020. In fact, data from the Bank of Greece reveals a 14% rise in the value of card transactions, indicating a promising future for electronic payments.
Debit cards have emerged as the preferred alternative to cash, comprising around 90% of the total number of transactions across all types of payment cards. This highlights the trust and reliability that consumers place in electronic means of payment. As Greece progresses towards a more cashless society, these figures suggest that taxpayers will be further incentivized to embrace plastic money.
The shift towards electronic payments in Greece has not only been influenced by the pandemic but also by the growing adoption of digital technologies and the increasing convenience they provide. With the continuous advancements in financial technology and the proliferation of secure online payment platforms, Greeks are gradually recognizing the benefits of electronic transactions, including improved security, speed, and accessibility. Beyond temporary effects during the pandemic, online shopping shows a permanent boost that is not to be missed.
Other news from Greece
New education was created: Educational videos for Greece
Greece
Author: Tara Nedeljković
The Greek fiscalization framework is based on a combination of certified fiscal devices and digital reporting via the myDATA platform, governed by a structured legal framework and supervised by the tax authority (AADE), applying to defined taxpayers, transactions, and business activities. Businesses, especially retailers, must comply with strict fiscal requirements, including issuing compliant receipts, using certified hardware or service providers, and ensuring real-time or near real-time data transmission to the tax authority. Read more
Subscribe to get access to the latest news, documents, webinars and educations.
Already subscriber? Login
Greece Delayed Mandatory B2B E-Invoicing and Introduced Transition Period
Public
Greece
Author: Ivana Picajkić
Greece
Author: Ivana Picajkić
Greece has slightly postponed mandatory B2B e-invoicing for large businesses to March 2, 2026, introducing a transition period until May 3, 2026 to allow system adaptation. While penalties are deferred until the end of this period, non-compliance will still be strictly sanctioned as if no invoice was issued. Greece has postponed the start of mandatory B2B e-invoicing. Instead of beginning in Febru... Read more
Greece Steps Up Market Inspections to lessen Tax Evasion
Greece
Author: Tara Nedeljković
Greece is ramping up market inspections to curb VAT evasion, combining on-site checks with electronic cross-checks focused on mandatory connectivity between EFT-POS, IRIS, cash registers, and the myDATA system. Read more
Subscribe to get access to the latest news, documents, webinars and educations.
Already subscriber? Login
Greek AADE intensifies 2026 controls with more focus on retail transactions.
Greece
Author: Tara Nedeljković
Greece’s AADE will intensify tax controls in 2026 by shifting from random inspections to data-driven risk analysis, with a strong focus on retail transactions and sectors prone to cash-based tax evasion. Read more
Subscribe to get access to the latest news, documents, webinars and educations.
Already subscriber? Login
How Are Electronic Payments Changing the Greek Payment Landscape?
Greece
Author: Tara Nedeljković
Greece is rapidly shifting from a cash-heavy economy to widespread electronic payments, driven by government measures, new legal requirements, and the linking of payment terminals to tax authorities, with studies by the Foundation for Economic and Industrial Research (IOBE) showing strong growth in card usage and significant VAT gains. Read more
Subscribe to get access to the latest news, documents, webinars and educations.
Already subscriber? Login
Greece is Introducing Partial Targeted VAT Reform
Greece
Author: Tara Nedeljković
Greece’s Law 5246/2025 introduces a targeted VAT reform focused on supporting low-population island regions, extending real estate VAT suspension rules, and removing certain levies. Read more
Subscribe to get access to the latest news, documents, webinars and educations.
Already subscriber? Login
Greece: Mandatory IRIS Instant Payments from December: All Businesses including B2C to Accept IRIS
Greece
Author: Tara Nedeljković
From December 1st, all B2C transactions must accept IRIS payments, with regulatory groundwork being finalized by the AADE. Read more
Subscribe to get access to the latest news, documents, webinars and educations.
Already subscriber? Login