Insider Economy Credit card use in Cyprus up 16% in July

Credit card use in Cyprus up 16% in July

Local credit and debit card use in Cyprus (sales) in July totalled €415m up an annual 16%, while yearly sales are up  20% so far to €2.2b, according to the latest figures released by JCC on Monday.

Meanwhile, local cards used abroad in sales and cash withdrawals rose 10% to €172.5 m, while so far this year they are up 7% to just over €1b.

Foreign cards used in Cyprus in April (sales) jumped 22% to € 155.3m, while so far this year they are up 18% to €695m.

As far as the use of local cards in the occupied areas is concerned, the total for July was €1.9m and for the year to date €11.7m. Use of local cards in Turkey was €637,301 in July and €3.1m so far this year.

Turkish cards were used for €1.5m worth of transactions in the government controlled areas in July and for €9.6m so far this year.

JCC said use of cards rose for transactions with the government, to pay for utilities and at restaurants and bars and fell for payments at Do-It-Yourself & Household stores.

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