Mastercard Innovation Forum 2024: Driving the innovation of the future together – Economic Postman –

The Athens Mastercard Innovation Forum 2024, entitled “Innovating the Future Together”, is back this year with a focus on the payments ecosystem and the latest innovations in the banking and digital economy industry.

On Thursday, October 17, leading institutional representatives, distinguished executives from the banking and technology industries, as well as Mastercard senior executives gathered at the Stavros Niarchos Foundation Cultural Center and presented the developments shaping the future of payments and technology.

During the Athens Mastercard Innovation Forum 2024, the latest developments in artificial intelligence, e-commerce and new payment security technologies were presented, while the challenges and prospects of economic development in Greece and the wider region of SE Europe were discussed, with an emphasis in the sustainable economy.

In addition, top executives from the banking industry analyzed the strategic cooperation between traditional banks and fintechs, as well as the importance of the digital euro for the European economy.
At the Financial Education level, innovative financial education and empowerment programs were presented, such as Mastercard’s Financial Life Park.

Spread of electronic transactions

The round of speeches was opened by the Minister of National Economy and Finance, Kostis Hatzidakis, who in his brief greeting referred to the positive developments of the current year in the field of the economy and the financial sector, placing particular emphasis on the government’s systematic effort to spread of electronic transactions.

(from left to right): Kostis Hatzidakis, Minister of National Economy and Finance and Panagiotis Polydoros, Country Manager at Mastercard for Greece, Cyprus and Malta

Mr. Hatzidakis announced that the same policy will continue to further strengthen electronic payments, among other actions, to strengthen the banking and financial system.

“The expansion of card payments is an important step forward for our economy, acting as a critical tool to address economic pathologies such as tax evasion,” he said.

The importance of innovation

Panagiotis Polydoros, Country Manager at Mastercard for Greece, Cyprus and Malta

The baton was taken by Panagiotis Polydoros, Country Manager at Mastercard for Greece, Cyprus and Malta who set the tone of the event, underlining the importance of innovation for the further development of the payments ecosystem and the banking sector. Starting with a review of the significant developments in the field of transactions so far, Mr. Polydoros then focused on the goals for 2025, among which he noted the penetration of business-to-business transactions and the further upgrading of the user experience and security in his environment e-commerce. Analysis of the economic situation of Greece.

Natalia Lechmanova, Chief Economist της Mastercard

During her speech, Natalia Lechmanova, Mastercard’s Senior Vice President and Chief Economist, analyzed the current economic situation in Greece, while emphasizing that the Greek economy, along with the economies of Cyprus and Malta, has outperformed compared to average of the Eurozone after the pandemic, showing impressive growth in areas such as GDP, consumption, exports and employment. At the same time, he pointed out that inflation in Greece has decreased significantly from 12% in 2022 to 3% in 2024, while the resilient labor market, the increase in real disposable incomes and the shift in consumer spending towards discretionary categories such as travel and focus, enhance the country’s economic recovery.

Banking panel moderated by Panagiotis Polydoros

(from left to right): Iakovos Giannaklis, Deputy CEO, Retail & Digital at Eurobank, Vassilis Koutentakis, Head of Retail Banking at Piraeus Bank, Stefanos N. Mytilinaios, Chief Operating Officer at Alpha Bank, Ernestos Panagiotou, General Manager and Member of Executive Committee of Transformation, Strategy & International Activity at National Bank, Panagiotis Polydoros, Country Manager at Mastercard for Greece, Cyprus and Malta

In the panel with bank executives, the discussion focused on the challenges facing the banking sector in Greece, with an emphasis on the cost of banking services and the new regulatory framework for micro-transactions.

The discussion revolved around the challenges and developments in the banking sector in Greece, with an emphasis on the cost of banking services and the new regulatory framework around micro-transactions. The rapid evolution of the payments ecosystem with initiatives such as the digital euro and the rise of artificial intelligence technology in banking was also discussed. The panelists discussed the opportunities for cooperation with fintechs, new digital platforms and the ever-increasing consumer demand for personalized banking experiences.

The issue of cyber security in focus

Another interesting discussion was about Cyber ​​Security, in which Michalis Bletsas, Commander of the National Cyber ​​Security Authority, and Steve Brown, Vice President, Cyber ​​Security & Resilience, Europe of Mastercard participated. In particular, they discussed the challenges in cyber security and the need to strengthen the resilience of payment systems against modern digital threats.

(from left to right) Michalis Bletsas, Commander of the National Cyber ​​Security Authority and Steve Brown, Vice President, Cyber ​​Security & Resilience, Europe at Mastercard

Stories of innovation

In the Fireside chat that followed on the topic of Cybersecurity, the challenges and the need to strengthen the resilience of payment systems against modern threats were discussed. The discussion was attended by Mr. Michalis Bletsas, Commander of the National Cyber ​​Security Authority, and Steve Brown, Vice President, Cyber ​​Security & Resilience, Europe of Mastercard.

The Athens Mastercard Innovation Forum 2024 closed with 3 stories of successful innovative applications, such as technological solutions for in-car payments, focusing on the example of Škoda, the Biometric Checkout Program, which allows biometric payments without a physical card or mobile, and the Mastercard initiative Send for packaging waste reduction and environmental sustainability.

Finally, during the event, participants had the opportunity to visit the Innovation Corner, where they could discover innovative solutions in the payments industry and meet experts to learn about the latest developments and opportunities in the financial sector.