Cyprus Mail
Business

Value of credit-card spending at same level as last year

The value of credit card transactions by Cypriots has remained unchanged in the first seven months of the year, JCC said on Wednesday.

According to the latest figures, the value of card transactions between January and July amounted to €1.28bn and remained unchanged during the corresponding period of last year.

In July, the value of card transactions in Cyprus recorded an increase of 1 per cent compared to the same month last year and amounted to €199 million.
According to JCC, there was an increase in payments in Government, schools and colleges, restaurants, bars, catering services and insurance, while a decrease was recorded in card payments in stores, public utility services distance selling and fuel.

An increase of 2 per cent in the first seven months was recorded in purchases and cash withdrawals made by Cypriots abroad compared with the same period last year reaching €667.9 m, while in July there was a drop of 1 per cent amounting to €100.2m.

The amount of purchases by tourists in Cyprus using plastic money rose by 11 per cent between January-July 2015 amounting to €373.6m.
The July records show an increase of 8 per cent in the use of credit cards by tourists in Cyprus amounting to €83.1 m. compared with the corresponding month last year.

At the same time, more than €6.5m was spent in the occupied areas and Turkey in the first seven months of the year with cards issued in government-controlled area of Cyprus. (CNA)

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