Payment systems

PayPal Quarterly Payments Jump 85% in Three Years to Hit 3.2 billion in March 2020

Smart devices and a booming global eCommerce market have driven the rapid adoption of digital payments worldwide. Digital payments have changed the payment industry traditionally dominated by cash and credit cards, offering consumers lower fees and faster transfers at the touch of a button.

EU Commission calls for state guarantees for vouchers for cancelled travel

The European Commission will tell countries in the European Union to provide state guarantees for travel vouchers during the coronavirus pandemic, if they prefer people to accept the vouchers instead of cash refunds, according to a strategy document seen by Reuters.

Limit on contactless payments to rise

Viva Wallet, the company which operates the vast majority of card terminals in Greece, as well as being active in six other countries, said on Monday its equipment has been upgraded and now accepts contactless payments without the card user having to punch in their PIN for amounts up to 50 euros, as banks had requested.

Contactless payment in Turkey soars amid coronavirus fears

Contactless payments via credit and debit cards have soared across Turkey in February and March, the Interbank Card Center (BKM) chairperson has said.

Payments made by contactless cards and mobile payments constituted some 15 percent of all market or store shopping in February, some 10 percent higher than the rate in the same month of 2019, Soner Canko said.

Bank association urges customers to pay bills online to limit contacts, avoid cash

The Hellenic Bank Association (HBA) urged customers to favor electronic transactions over visiting bank branches and to rely on card payments instead of cash, as a way to limit the transmission of the new coronavirus.

In its press release, the association said banks would continue their operations as usual and resupply ATMs with cash.

Lykovrisi cash machine targeted by robbers

Unknown assailants blew up a bank branch ATM early Monday morning in the area of Lykovrysi, northern Athens.
Police said the heist occurred at 3.25 a.m. on Sofoklis Venizelou Avenue.
The perpetrators used dynamite to blow up the cash machine and made off with an undisclosed amount of money.
It was the fourth time that the ATM in question had been targeted in recent years.