Cyprus Mail

Plastic money use rises in August, JCC says

The value of transactions carried out in Cyprus with the use of Cypriot cards rose an annual 7 per cent in August, to €190.9m, payment processing company JCC Payment Systems Ltd said.

In August, the value of cash withdrawals and purchases by Cypriots abroad rose 25 per cent, to €126.1m, compared to the respective month of 2015, JCC said in an emailed statement. Tourists spent a total of €92.8m with the use of cards in Cyprus,14 per cent more compared to the respective month of 2015.

In January to August, total purchases by Cypriots at merchants in Cyprus with the use of plastic money rose 6 per cent, to over €1.5bn, while the value of purchases and cash withdrawals abroad rose 19 per cent, to €916.6m, JCC said. In the first eight months of the year, tourists spent a total of €507.6m using their cards.

In August, holders of Turkish cards spent a total of €2.2m for purchases in the government controlled areas, mainly for groceries and clothing, JCC said. In January to August, holders of Turkish cards spent a total of €16.2m in Cyprus.

On the other hand, holders of cards issued by Cypriot banks spent €686,253 and €325,741 respectively in Cyprus’s Turkish held areas and Turkey last month. In January to August, they spent €5m and €2.1m.

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