Contactless transactions in Greece soared 3662 pct since 2016, MasterCard reports

The value of contactless transactions in Greece has rocketed by a whopping 3662 pct since 2016, according to an announcement issued by MasterCard on Wednesday on the findings of a survey on how Greeks shop for Valentine’s Day.

The survey also showed that Greeks buck the worldwide trend for last-minute Valentine’s Day shopping, preferring to shop for their significant other in advance and, increasingly, online. Based on the survey, most purchases in Greece linked to Valentine’s Day are made on February 11 (30 pct), while the number of electronic transactions has jumped 48 pct between Valentine’s Day in 2016 and Valentine’s Day in 2018.

A dinner date remains the top choice for a Valentine’s Day gift, in line with worldwide trends that value experiences over material gifts, with the data revealing that the number of transactions at restaurants increased 639 pct in the last three years in Greece, while total spending increased by 135 pct.

Contactless transactions have also increased their share of total transactions in Greece by 7080 pct in the same period (from 2 pct in 2016 to 11 pct in 2018)

The data was collected for the annual MasterCard Love Index, now in its fourth year, which tracks the main global and local consumer trends on “the most romantic day of the year,” according to Aspa Palmer, the master card Country Manager for Greece, Cyprus and Malta.