Cyprus Mail
Business

Credit card use falls

DOMESTIC credit card usage fell 2 per cent in April year-on-year to €165.3m, according to statistics released on Monday.

The total value of transactions between January and April also fell 2 per cent to €717.1m compared to the same period last year, JCC Payment Systems said.

The use of credit cards for purchases and cash withdrawals abroad rose an annual 1 per cent both in April and in the first four months of the year to €92.2m and €372.6m respectively, JCC said.

Credit card usage by tourists rose 13 per cent year-on-year in April to €50.4m and by 15 per cent between January and April to €148.7m compared to the same four months last year.

JCC said that holders of Turkish Cypriot credit cards spent €1.5m in the government-controlled areas in April, and spent €6.3m between January and April.

Holders of local cards spent almost €0.9m in both Turkey and the north of the island in April and €3.2m between April and January. Out of that, less than €0.5m was spent in the north during April and almost €2m for the period January to April, JCC said.

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