articles | 07 October 2016

Cyprus' credit card use rises 11% in September 2016

The value of retail purchases in Cyprus by Cypriots using plastic money rose in September an annual 11% to €197.1m, JCC Payments System Ltd said.

In January to September, the overall value of card purchases by Cypriots in Cyprus rose 6% to €1.7bn, JCC, the payment processing company, which is a consortium of Cypriot banks, said in an emailed statement on Friday.

The value of cash withdrawals or purchases abroad by holders of Cypriot cards rose in September 15% to €122.9m and 19% in the first nine months of the year to over €1bn compared to the respective 2015 period, JCC said.

The value spent by tourists for purchases from merchants in Cyprus rose an annual 16% to €86.8m in September and 12% in January to September to €594.5m, JCC said.

The value spent by holders of Turkish cards in the government-controlled areas in September was €2.8m and in January to September €19.m, JCC said. On the other hand, Cypriots spent in September with the use of cards €510,220 in the north of the island and €236,421 in Turkey. In the first three quarters of the year, the respective values were €5.5m and €2.3m.

Source: Cyprus Mail

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