Cashless trend deepens across Greek economy

Visa Hellas country manager Nikos Petrakis recently highlighted the growing shift towards invisible payments, as well as how technology is reshaping everyday transactions.

Speaking to Athens-Macedonian News Agency (APE-MPE), Petrakis described a payment landscape that has moved far beyond plastic money, arguing that the experience of paying for goods and services has become faster, more seamless and increasingly embedded in daily routines.

According to him, what once depended on physical cards and terminals has evolved into a system where transactions are completed through mobile wallets, smart devices and even biometric authentication.

He explained that consumers no longer rely on carrying a physical card, with payments now taking place through tap-to-pay, scanning or identity verification methods such as fingerprint and facial recognition.

The transformation, he said, has been driven by the expansion of e-commerce, shifts in consumer behaviour and the rapid adoption of digital payments across the Greek market.

Emphasising security as a parallel development, Petrakis pointed to the role of tokenisation and strong customer authentication, which he linked to both increased protection and smoother user experience.

He highlighted that in 2025, 32 per cent of Visa transactions in Greece were tokenised, a rise of 85 per cent compared with 2024, underlining the acceleration of financial technology adoption.

Contactless usage, he added, is already 15 per cent higher than the European average, reflecting the speed at which contactless payments have become part of everyday life in Greece.

He also noted that online transactions are expanding, with average values now 2.5 times higher than in-store card payments, signalling deeper reliance on online transactions for higher-value purchases.

Rather than remaining an alternative, digital payments are now becoming the default infrastructure of economic activity, according to his assessment.

Looking ahead, he pointed to the emergence of invisible payments, where transactions occur without conscious user interaction and are fully integrated into the purchasing experience.

He further referred to the rise of AI agents, suggesting they will increasingly be able to search, select and complete purchases on behalf of consumers and businesses.

This evolution, he said, is shifting commerce towards a more automated model where decision-making and execution are increasingly supported by financial technology systems.

At the same time, mobile wallets are becoming the primary interface for card usage, embedding payment tools into smartphones and wearable devices.

He underlined the importance of biometric verification, noting its role in speeding up transactions while reinforcing fraud protection.

Security, he added, remains central, with continued reliance on tokenisation, encryption and real-time monitoring systems to protect user data.

He argued that trust remains a fundamental pillar of the ecosystem as digital payments become more deeply integrated into daily life.

Greece, he observed, is already among the more advanced European markets in the adoption of contactless payments, particularly for low-value everyday transactions.

He also referenced the upcoming Delphi Forum, scheduled for April 22 to April 25 2026, where experts will examine the future of digital payments, artificial intelligence and broader economic developments shaping the next phase of the industry.