Cyprus Mail
Cyprus

Credit card use rises 9% in March, JCC says

The use of plastic money by Cypriots rose 9 per cent in March to €196.7m and 4 per cent to €575m in the first quarter of the year compared to the respective periods of 2015, JCC Payment Systems Ltd said.

Cypriots also used the cards for withdrawals or purchases abroad worth €113.4m in March and €326.1m in January to March, which are 17 per cent and 16 per cent more compared to the respective periods of 2015, JCC said in an emailed statement on Tuesday.

Tourists visiting Cyprus spent €43.4m in Cyprus with the use of cards in March, which is 13 per cent more compared to a year before, JCC said. In the first three months of the year, the total value of purchases by tourists with the use of plastic money rose an annual 11 per cent to €118.8m.

In March, users of cards processed by JCC spent a total €227,232 and €615,052 in Turkey and Cyprus’s Turkish held area respectively, JCC said. In the first quarter of the year, the respective amounts were €1.8m and €731,431. Holders of Turkish cards spent €1.8m in March for purchases in the government controlled areas and €5.4m in the first three months of the year.

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