Antigonos Papadopoulos talks about FinTech at the teleconference of the Hellenic Competition Commission
Antigonos Papadopoulos, Commercial Director of Cardlink, spoke at the Public teleconference on Financial Technologies, participating in the second thematic section on Payment Systems with the topic “Card Transactions in the Coronavirus Era”.
Through his in-depth presentation, we learn about consumer spending behavior before and during the pandemic. Through the very interesting data collected by Cardlink, he analyzes the market shares, unique Cardlink Insights, as well as the conclusive data that emerge.
The most significant amongst them is, of course, the big shift towards electronic money. As we experience a general decline in commerce, consumers are increasingly asking for digital payment tools, such as credit/debit cards and wallets, meaning that electronic transactions are continuously growing since last year.
However, a drop on the average value of transactions is apparent, as another consequence of the electronic payment trend is that consumers now use their cards for even small sums.
Furthermore, we observe that 90% of the transactions are contactless — contributed also by the fact that the limit of contactless transactions has increased to €50—, 40% of the transactions are up to €10 and 85% of the electronic transactions are via debit cards, which shows that credit cards in the Greek market are fewer.
Another emerging trend is the non-printing of the receipt, as it offers limited contact, but also less paper is consumed, and transactions are done at a higher speed, adding to a better service.
Cardlink offers this feature, as well as an integrated payment acceptance solution with Cardlink POSsible, which combines cutting-edge technology devices and Android software, with many more features to meet every need of the modern entrepreneur.