Cyprus Mail

Use of credit card rises 14% in April, JCC says

Holders of Cypriot cards used plastic money for purchases in Cyprus worth €189m in April and €764m in the first four months of 2016 which was 14 per cent and 7 per cent higher compared to the respective periods of 2015, JCC Payment Systems said.

In addition, Cypriots used their cards for cash withdrawals or purchases abroad worth €112.4m in April after rising an annual 22 per cent, JCC said in an emailed statement on Tuesday. In January to April, the value of cash withdrawals and purchases by Cypriots abroad with the use of a card rose 18 per cent to €438.5m.

Tourists to Cyprus used credit cards to buy products and services worth €55.9m in April and €164.7m between January and April, which was in both cases 11 per cent higher compared to the respective period of 2015, the payment processing company said.

In April, users of Turkish cards used plastic money for purchases worth €2m, JCC said. Holders of Cypriot cards made purchases worth €647,022 in Cyprus’s Turkish held area and €258,947 in Turkey.

In the first four months of the year the value of goods purchased by holders of Turkish cards in Cyprus was €7.4m, while the value of purchases of Cypriots in Cyprus’s Turkish held areas and Turkey was €2.4m and €990,378 respectively.

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