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Payments and e-commerce in Greece

Discover how Greeks like to shop and pay online

Greece

General Information

  • Population 10.7 m
  • Population 15 + 9.3 m
  • Online population 7.8 m
  • Area 131,957 km2
  • Currency EUR
  • GDP 211.6 bn $US
  • GDP per capita 19,743 $US
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other 
[{"label":"Card-based payments","value":"49"},{"label":"Cash-based payments","value":"24"},{"label":"Bank transfer","value":"9"},{"label":"Wallets","value":"16"},{"label":"Other","value":"2"}]
Banked population
  • Greece 87%
  • Western & Central Europe 96%
  • World 67%
Credit card penetration
  • Greece 14%
  • Western & Central Europe 47%
  • World 19%
Internet penetration
  • Greece 73%
  • Western & Central Europe 92%
  • World 62%
Smartphone penetration
  • Greece 66%
  • Western & Central Europe 81%
  • World 70%

The economy in Greece is still strong although starting to slow. GDP for 2022 is forecast to be 4%, falling to 2.4% in 2023. Like other countries in Europe, inflation is forecast to rise in 2022 to 8.9% before returning to 3.5% in 2023.

Social commerce will see an increase of CAGR 63.5% 2022-2028, worth 1,220.3 m $US in 2022 and 21,844.8 m $US in 2028.

The Hellenic Development Bank is offering funds to SMEs to help them develop digitally through two schemes – 4th Industrial Revolution and Business Innovation Greece.

The most popular Greek online storein July 2022 is skroutz.gr with 77.5 m visitors.

Future e-commerce trends (2021-2026)

B2C e-commerce ($US billion)
2022 14.2
2023 17.0
2024 19.8
2025 22.6
2026 25.3
E-commerce spending per capita ($US)
2022 1340
2023 1614
2024 1888
2025 2157
2026 2422
E-commerce spending as % of GDP
2022 6.8%
2023 7.9%
2024 8.9%
2025 9.8%
2026 10.7%

Greece

The E-Commerce Market

Top e-commerce segments

  1. Fashion: 31%
  2. Electronics & Media: 24%
  3. Food & Personal Care: 20%
  4. Toys, Hobby & DIY: 16%
  5. Furniture & Appliances: 9%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 4%
  2. Value of cross-border e-commerce – 0.5 bn $US
  3. Online shoppers who have shopped cross-border – 24%

Top 3 cross-border shopping origin markets

  1. China: 47%
  2. UK: 11%
  3. Germany: 10%
B2C e-commerce growth 20->21
  • Greece 19.2%
E-commerce % of total retail
  • Greece 6%
  • Western & Central Europe 17%
  • World 20%
E-commerce completed on a mobile device
  • Greece 39%
  • Western & Central Europe 44%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • Other 
[{"label":"Visa","value":"47"},{"label":"Mastercard","value":"52"},{"label":"Other","value":"1"}]
  • E-commerce market size 11.6 bn $US
  • E-commerce spending per capita 1,094 $US
  • E-commerce spending as % of GDP 5.9%

Greece

Local Payment Methods

BitPay Type Cryptocurrency Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysafecard Type Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Paysafecash Type Cash Regions Eastern Europe & the CIS, North America + 1 Paysera Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SEPA Direct Debit Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Trustly Type Bank transfer Regions Eastern Europe & the CIS, North America + 1 Market relevance High TrustPay Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay SecurePay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Apple Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Masterpass Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SEPA Credit Transfer Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High WebMoney Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 1 Market relevance High AstroPay Type Prepaid voucher Regions Asia Pacific, Middle East & Africa, South & Central America + 1 Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium SEPA Instant Credit Transfers (SCT Inst) Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance Medium Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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