Electronic transactions have been gaining more and more ground in the daily transactions of Greeks, even for small purchases.
According to a European Central Bank’s (ECB) survey, Greece was one of the countries where cash “lost ground” in 2024 compared to electronic means of payments such as cards, mobile phones, etc.
Of the total value of transactions made at Point of Sales (POS) in Greece, only 42% was made with cash, and 47% with cards, one of the highest percentages in the Eurozone.
Greece is phasing out the use of cash assisting the government’s efforts to combat “black” money. In combination with the measures it has already taken, such as e.g. the interconnection of cash machines with POS, it manages to limit tax evasion.
Which payment method is preferred
However, asked which payment method they prefer, 50% of Greeks answered that they prefer cash, which is the highest percentage in all Eurozone countries.
The ECB pointed out that cash was the most frequently used payment method in 14 out of 20 countries in 2024. Although electronic payment methods are increasingly used for retail payments in a number of member states, cash continues to play an important role in society and is still widely used throughout the population.
