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Tag Archives: payments

TUI payments delay puts survival of Greek hoteliers at risk

The survival of hundreds of Greek businesses in the hospitality industry is at stake after tour operator TUI earlier this month issued a series of contract amendments that require hotel owners to wait until March 2021 for three-quarters of the money due for accommodation booked this year, the Financial Times …

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Greek banks extend suspension of loan payments for businesses & individuals

Greek banks, members of the Hellenic Bank Association, on Tuesday announced the extension of measures to support enterprises and individuals hit directly and indirectly by the pandemic crisis and of a moratorium on debt payments until December 31, 2020. In an announcement, the banks said they remained steadfast on the …

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Greek banks raise limit for contactless card payments without PIN

The Hellenic Association of Banks announced on Thursday that the banks increase the limit for contactless payments with debit, credit cards and prepaid cards without using PIN. The limit is raised from 25 euros today to 50 euros. The measure will be implemented from Monday, March 30 until Sunday May …

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SCA: EU’s new security standards for card, e-commerce payments

Rapid changes in the payments industry, the rise of e-commerce and the constant threat of fraud have led the European Union (EU) to update its Payment Services Directive (PDS), which has regulated the electronic payment services industry since 2007. The EU’s new PSD2 directive (2015/2366/EU), has gone into effect as …

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“MPs would receive €24,000 in retroactive payments” stirs Greece’s political kitchen

Greek lawmakers secretly voted last week that they are also entitled to retroactive salary payments as those civil servants in the category of special payrolls, media reported on Monday. According to a press release issued on November 12 by the Union for the Protection of Labor (ENIPEKK), each lawmaker is …

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Belgium to pay €222mn to Greece in SMP profit return from Greek bonds

Belgium will pay a total of 221.8 million euros to Greece in the context of profit central banks made from Greek bonds, Belgian business newspaper L ‘Echo reports. The money is from the ECB and EZ central banks Security Markets Program. “In the midst of a crisis, the European Central …

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IMF : Greece has right to “bundle” four June payments into one

Greece’s deadline for repayment to the International Monetary Fund is coming close, while the options for agreement with creditors remain unclear. Without agreement there is no bailout funding for cash-strapped Greece that struggles to avoid a “credit event” on June 5th, when €300 million are due to the IMF. Greece’s …

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