Card payments in Cyprus increase significantly in 2018

The use of cards in Cyprus, both local and foreign, recorded a significant increase in 2018, according to the latest statistics provided by JCC.

Payments with local cards in Cyprus reached €3,53bn, up by 33% compared with 2017. Payments and withdrawals with local cards abroad rose to €1,75bn, presenting an increase of 10%.

The use of foreign cards in Cyprus increased by 20% in 2018 to €1,104,321,802, compared to the previous year. Payments and withdrawals with foreign cards stood at €1,37bn increased by 17%.

In December 2018, the use of local cards in Cyprus was up by 41% reaching €425,86mn, while payments and withdrawals with local cards abroad stood at €153,48mn presenting an increase of 3%, compared with the same month of 2017.

Card payments increased in the sectors of government, supermarkets, utilities, restaurants, bars and catering.

Payments with foreign cards in Cyprus reached €71,92mn, in December 2018 presenting an annual increase of 46%, while payments and withdrawals with foreign cards rose by 35% to €91,93mn.

Almost €20 mn spent in the occupied areas and Turkey

Transactions with local cards in the occupied areas and Turkey in 2018 reached €15,03mn and €4,30mn respectively.

In December 2018 transactions with local cards in the occupied areas stood at €1,94mn whereas in Turkey they stood at €350 thousand.

Source: Parikiaki.com

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