Payment systems

Cardholders in Greece lost 13.5 million euros in 2023, falling victim to fraud by people who either stole their card or their data. This is a part of the total loss that occurred through plastic money fraud, the amount of which increased from €16.2 million to €23.8 million (an increase of 46.9%), as the remaining €10.3 million was charged to banks and payment providers.

The European Commission decided on Wednesday to refer Greece to the EU's Court of Justice for not applying correctly the rules under the Late Payment Directive.

The Late Payment Directive obliges public authorities to pay their invoices within 30 days (or 60 days for public health authorities). 

Credit card spending increased by 138 percent on an annual basis in March to hit 992 billion Turkish Liras ($30.4 billion), according to data from the Interbank Card Center (BKM).

The number of credit cards in use in Türkiye rose by 17 percent compared to March of last year to a total of 121.4 million.

Checks have begun on professionals and businesses in the 35 retail sectors which are required to have POS terminals installed and accept card transactions from April 1

Bulgarian Posts, a cornerstone of the country's communication infrastructure, faces criticism for its outdated payment systems, highlighting a stark contrast with the widespread adoption of digital transactions in modern society.

A total of 105,237 citizens have downloaded the Gov.gr Wallet on their mobile phones over the last 30 days, which will be mandatory in soccer grounds as of Tuesday, April 9.

The number of Greeks who have obtained a digital wallet, since its launch on July 2022, is estimated at 1,877,032.

A total of 105,237 citizens have downloaded the gov.gr wallet application on their mobile phones over the last thirty days, the Digital Governance Ministry said on Saturday.

The number of people with unpaid consumer loans and credit card payments declined by 11.6 percent last year from 2022 to 1.32 million, according to data Encazip compiled.

In 2022, nearly 1.5 million people failed to make consumer loans and credit card payments, according to the numbers of the Turkish Banks Association's (TBB) Risk Center.

Residents of Western Bulgaria serviced by the electricity distribution company "Electrohold" now have a hassle-free way to settle their electricity bills online. The company has announced the launch of a virtual point-of-sale (POS) terminal on its website, allowing customers to make payments without the need for registration.

The high fees for card transactions whether through POS or e-commerce are an international problem that has mobilized the relevant regulatory authorities.