TTE: Payment Card Transactions Reach €112 Billion in 2024

In 2024, the total value of transactions made by Greek consumers using payment cards reached €112 billion, an increase of €10 billion from 2023. The growing use of cards for payments was accompanied by a fortunate reduction in fraud costs. In 2024, the ratio of fraud incidents to total card transactions (Fraud-to-Transaction ratio) decreased by 14% in terms of transaction count and 13% in transaction value. This decline can be attributed to enhanced security measures implemented by payment service providers, as well as extensive collaboration with national and international entities aimed at better informing users about safe card usage and emerging fraud tactics. According to the Bank of Greece’s Financial Stability Report, the total number of card transactions in 2024 increased by 14%, reaching 2.511 billion. Similarly, the total value of these transactions rose by 9% year-on-year to €112 billion. Debit card transactions accounted for 93% of the total, with their count rising by 14% to 2.325 billion. Credit card transactions also saw a 10% increase, reaching 186 million. On average, the number of transactions per card grew by 14% to 122 transactions, while the average transaction value per card increased by 10% to €5,468. Despite these increases, the average transaction value continued its downward trend, decreasing to €44 from €46 in 2023, likely due to increased use of debit cards for low-value purchases.