Cyprus Mail

Use of credit cards rises 11% in September, JCC says

The value of retail purchases in Cyprus by Cypriots using plastic money rose in September an annual 11 per cent to €197.1m, JCC Payments System Ltd said.

In January to September, the overall value of card purchases by Cypriots in Cyprus rose 6 per cent to €1.7bn, JCC, the payment processing company, which is a consortium of Cypriot banks, said in an emailed statement on Friday.

The value of cash withdrawals or purchases abroad by holders of Cypriot cards rose in September 15 per cent to €122.9m and 19 per cent in the first nine months of the year to over €1bn compared to the respective 2015 period, JCC said.

The value spent by tourists for purchases from merchants in Cyprus rose an annual 16 per cent to €86.8m in September and 12 per cent in January to September to €594.5m, JCC said.

The value spent by holders of Turkish cards in the government-controlled areas in September was €2.8m and in January to September €19.m, JCC said. On the other hand, Cypriots spent in September with the use of cards €510,220 in the north of the island and €236,421 in Turkey. In the first three quarters of the year, the respective values were €5.5m and €2.3m.

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