E-commerce payment system
Across the world, digital payment methods are becoming increasingly widespread. Where once cash was king, consumers are now turning to methods that offer greater flexibility. They no longer want to have pockets full of change or make frequent trips to their nearest ATM; rather, they like to know they have constant access to their money at the click of a button.
The local e-commerce market reached 7 billion euros last year, up 36% compared to 2019, according to internal and external data analyzed by PayU, the leader of Romania's online payment market. "E-commerce is one of the fastest growing sectors, and Romania is no exception, registering an accelerated evolution, amid the COVID-19 pandemic, which would normally have occurred in years.
Greece is in second-to-last place among the 19 eurozone countries and 24th among all 28 European Union member-states in electronic payments per inhabitant, including payments with credit and debit cards and online transfers of money and e-payments of bills, according to European Central Bank data for 2018.
Some 1.2 million freelance professionals and small companies are set to come under the lens of the tax authorities, which will be scrutinizing their last five years of activity, as the head of the Independent Authority for Public Revenue Giorgos Pitsilis has issued a decision setting new criteria concerning their monitoring.
Nearly 26% of Bulgarians pay a debit card for their online purchases, which is a growth of 8 percentage points compared to 2016. This is clear from a Visa study presented today.
According to the data, Bulgarian citizens continue to recognize the benefits of electronic payments and to increase their confidence in them.
Payments over the Internet or via your mobile phone will become more secure from abuse. This will be provided by a new law on payment systems, which has already been approved by the Council of Ministers.
One of the options in the law is that payment service providers will introduce identification of the payer through his fingerprint or the iris of the eye.