Electronic transactions: Plastic money purchases up by 30%

Transactions with plastic money in Greece show a 30% increase. According to the data of the Ministry of Finance, plastic money payments are expected to reach about 60 billion euros this year.

More and more people prefer plastic money in all kinds of financial transactions, as a result of which consumers’ wallets are empty of bills and coins.

Calculations by the Ministry of Finance indicate that an additional 200 million euros may flow into the State coffers from transactions with plastic money alone this year, an amount which is expected to increase dramatically with the single issuance of receipts by cash registers and POS after their mandatory interconnection by next January.

Data on plastic money

The data available to the Ministry of Finance show that transactions with plastic money are increasing month by month and seem to be stabilizing in the region of 30%-40%.

Since the beginning of the year each month (compared to the corresponding month of the previous year) plastic money transactions show an increase of 17.6% in January, 30% in February, 39% in March, 32% in April, 36, 5% in May and 36% in June. Thus, this year the value of electronic transactions in excess of 60 billion euros cannot be ruled out, when in 2018 it was only 37 billion euros.