Each year, an increasing number of individuals are opting to use debit and credit cards for their everyday purchases, even for smaller transactions.
This transition to electronic payments serves as a significant advantage for the Independent Public Revenue Authority (AADE) and the government, as it boosts public revenue through enhanced VAT and income tax collections. Additionally, it plays a vital role in reducing tax evasion among professions characterized by high evasion rates.
According to data from the Bank of Greece (BoG), in 2024, the total volume of payment card transactions grew by 14%, reaching 2.511 billion. Meanwhile, the total monetary value of these transactions rose to €112 billion, up from €102 billion in 2023, marking a 9% increase.
The volume of debit card transactions also saw a 14% rise, totaling 2.325 billion in 2024, compared to 2.042 billion in 2023. Debit cards account for a substantial 93% of all payment card transactions.
In 2024, credit card transactions grew to 186 million, up from 168 million in the previous year. Their share of total transactions stands at 7%.
Last year, the average number of transactions per card rose to 122, up from 107 in 2023. A closer look at individual card categories reveals that the increase in debit card transactions per card drove this change, rising from 115 to 134 transactions.
The average transaction value per card climbed by 10% to €5,468, compared to €4,947 in 2023. This increase is primarily attributed to a 12% rise in the average value of debit card transactions, which went from €5,365 to €6,002. The average transaction value for credit cards grew by 2%, reaching €2,616, up from €2,547 the previous year.
