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

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

In December 2018, the use of local cards in Cyprus was up by 41% reaching Euros 425,86mn, while payments and withdrawals with local cards abroad stood at Euros 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 Euros 71,92mn, in December 2018 presenting an annual increase of 46%, while payments and withdrawals with foreign cards rose by 35% to Euros 91,93mn.

Almost Euros 20 mn spent in the occupied areas and Turkey.

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

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

Source: Cyprus News Agency