According to a survey by the Foundation for Economic and Industrial Research (IOBE), the use of debit and credit cards remains very limited in Greece. In fact, one in every three cardholders used them for transactions under 50 euros, with the average monthly expenditure paid by plastic close to 104 euros.
The cards are used daily or at least weekly by 12% of Greeks. In comparison, a similar survey in Portugal revealed that 54% of people use debit cards daily and 30% up to twice per week. An interesting fact according to IOBE is that the survey showed only 9% of Greek cardholders having experienced problems with transactions
The survey, entitled “The impact of the proposed EU regulation on payment card systems: The perception of Greek cardholders” was conducted by the Foundation for Economic and Industrial Research (IOBE), with the support of MasterCard.
In order to investigate the opinion of Greek cardholders concerning the upcoming EU regulatory changes in payment card systems, IOBE with pollsters Public Issue conducted a survey based on results obtained from telephone interviews with a representative sample of 1,000 cardholders nationwide, using a predetermined questionnaire.
The survey revealed that most cardholders are concerned about possible changes in payment systems, such as those proposed by the EU. The majority of cardholders feel that the proposed legislation will not lead to the EU’s desired goal, which is to reduce final prices for consumers, while they also fear that any loss of revenue for the banks will be covered by higher charges to cardholders.
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