POS: The list of professionals who will accept card payments is ready

vouchers

The list of new professional branches that will be obliged to accept card payments via POS“locked” the Ministry of National Economy and Finance and the AADE.

The decision to expand POS to almost the entire retail market is expected to be issued by the end of the month and from the beginning of the new year thousands of professionals and enterprises should have POS such as:

  • taxi
  • cinemas
  • popular markets
  • stands
  • groceries
  • insurance companies
  • brokerage companies
  • gyms
  • parking

The electronic transactions, as the data shows, have led to the increase in VAT revenue and the restriction of the circulation of “black” money while their expansion is estimated to broaden the tax base, facilitate the work of control mechanisms and limit the scope for tax evasion.

With the expansion of POS, the number of card transactions is expected to increase which, according to data from the Bank of Greece, amounted to 49 billion euros in the first half of 2023.

The details of the Bank of Greece

According to the Financial Stability Report of the Bank of Greece in the first half of the year:

  • The volume of card transactions reached 1.048 billion, showing an increase of 2%, while the corresponding value was 49 billion euros, registering a decrease of 3%.
  • The average number of transactions per card appeared increased to 52, from 50 in the previous half.
  • Debit cards continue to be the main substitute for cash and continue to be widely used for small value transactions. The average number of transactions per debit card was 56 transactions, up from 53 in the previous half, while the average number of transactions per credit card was unchanged at 27 transactions.
  • The average value of transactions per card amounted to 2,414 euros, marking a marginal decrease of 0.48% compared to the previous six months. This decrease is mainly due to the almost zero change in the average value of transactions per debit card by 0.05%, which amounted to 2,611 euros, from 2,610 euros in the previous half-year. The average value of transactions per credit card decreased by 3.5% and amounted to 1,273 euros, from 1,320 euros in the previous half-year.
  • The average value per transaction for all cards decreased by 5% to 46 euros, from 48 euros in the second half of 2022.

Source: ot.gr