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Greeks expanding use of credit cards
Use of credit and debit cards in Greece expanded 12.8 percent in the second quarter of 2019, but the average value of each transaction declined, according to data published on Tuesday by the Hellenic Bank Association.
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Bulgarians Are Paying with Their Phones More Often Even for Smaller Amounts
5 years ago, Bulgarians were paying mostly by card for items of higher value such as black and white goods. Last year, the focus clearly shifted to smaller daily payments, according to data from the Bulgarian digital phyre wallet.
Using another bank’s ATM to cost 2-3 euros from July 20
Greek holders of debit cards making withdrawals from cash machines of other banks will as of July 20 be charged a commission that will range from 2 to 3 euros per transaction.
This will bring these charges into line with those imposed since last summer on foreign bank clients using Greek cash machines.
Fatigue evident in card use growth
The penetration of plastic money in everyday transactions has continued in the first quarter of 2019, but at a considerably lower rate than last year, as the presence of the card terminals is just for appearances for a significant number of professionals.
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Revolut, who Want to Replace Traditional Banks, Now Provide Accounts in Bulgarian Leva
Revolut now provides accounts in BGN, the Bulgarian currency, it became clear during the FinTech Summit, which took place in Sofia.
Bulgarian Start-up, Created Last Year, has Attracted BGN 1 Million of Investment
The Bulgarian start-up company, Payhawk, has attracted investments of 1 million leva after a new round of financing. The financial technology company, which offers digital cost management solutions for small businesses has 9 different investors, reports money.bg
Required online payments to rise
Taxpayers will have to increase their annual transactions made via credit/debit cards or e-banking by up to 50 percent, or face a hefty fine that will depend on the level of their income.
Kathimerini understands the regulation that will raise the minimum amount of online transactions toward the tax-free amount will be submitted to Parliament at the start of 2019.
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Card interaction volume on Black Friday in Turkey hit $647 mln
The total volume of transactions with credit and debit cards on Black Friday in Turkey reached 3.4 billion Turkish Liras ($647.4 million) with an annual increase of 38 percent.
Papaevangelou launches counterattack
Evangelos Papaevangelou went on the offensive on Friday, claiming that his company's activities in China are legal. To date the firm has sold over 150 Greek properties to Chinese investors.
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Expansion of card terminals in businesses
Dozens more professions will soon be forced to install and operate credit and debit card terminals. Sources say the Finance Ministry is expanding the obligation of accepting card payments to more professionals in a decision to be published by the end of the year, and that businesses included in the measure will have a three-month grace period for compliance.
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