Greeks Favor Card Payments When Traveling

The majority of Greeks preferred to pay with credit cards during trips abroad in the last two years, according to recent data released by Visa.

The study, conducted between Nov. 5 and 14, 2024, by the Institute of Commerce and Services (INEMY) of the Hellenic Confederation of Commerce & Entrepreneurship (HCCEE) on behalf of Visa, surveyed a representative sample of 1,000 people. The findings reveal that Greeks are increasingly relying on card payments for transportation, accommodation, shopping, entertainment, and dining before and during their trips.

More specifically:

•  eight in 10 choose to pay by credit card for expenses relating to travel including transport and accommodation
•  seven in 10 use credit cards for expenses made at their destination
•  half of those polled use debit cards for transportation and accommodation expenses with two in 10 opting for credit cards.

Based on the same data, Greeks prefer using cards (debit, credit, or prepaid) over other payment methods. Indicatively, 75% said they used cards for shop purchases, 69% for entertainment, and 69% for dining. When it came to transportation in the city, 65% said they preferred payment by card compared to 35% who chose cash.

The reasons cited for use of card by the respondents included speed and ease (48%), transaction security (27%), habit (12%) and easier to manage finances (8%).

Interestingly, among those who prefer card payments, 75% use a physical card, while 25% utilize digital wallets or smart devices.

“Card payments are fast and secure, with one of the lowest fraud rates among all forms of payment,” notes Nikos Petrakis, Country Manager Visa Greece.

Expenses examined in the study included those made before and during travel.

Source: tovima.com