Local
articles | 11 June 2019

Cyprus high on Russian credit-card spending list

The biggest increase in Russian credit card transactions abroad in the summer of 2019 compared to last year will be observed in Cyprus, Tunisia and Georgia, according to global credit card payment system Visa.

In these countries, Russian card spending may increase by 25%, Russian news agency TASS reported on Monday.

Card spending in Europe will increase by 8%, and in North America and Asia by 12% and 11% respectively.

Two-thirds of the amount spent by Russians abroad last year was paid out in ten countries, seven of which were European. Cyprus and Turkey were on top of the list, together with Italy.

“By the company’s estimate, this summer, the amount of Russians’ spending on Visa cards abroad, including cash withdrawals, will be 7% higher than the same period last year. The number of cards used abroad will also increase by about 10%,” the payment system reported.

According to forecasts, holders of 2.3 million Visa cards will use the same card about 11 times per trip. the total expenses on each card will total $826. Of this amount, Russians will spend 17% in cash, and 83% using payment terminals.

Source: Cyprus Mail

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