Insider Business JCC: Local credit card use up 12% since start of 2019

JCC: Local credit card use up 12% since start of 2019

Credit card use locally by Cyprus credit card holders slipped an annual 2% in November to total €284,194,352 , according to figures issued by JCC.  It was up 12% in the first 11 months of the year to €3,469,310,474.

But excluding the government sector, local use rose by 4% in November and was up 6% for the first 11 months of the year. The total monthly increase without the Government sector is 7% (YTD is 8%, JCC clarified.

Local Cards used Abroad (Sales and Cash withdrawals) rose 11% to € 168,741,052 in November and were up 9% for the first 11 months to total €1,752,412,816.

As regards foreign Cards  (sales) used in Cyprus these climbed 17% in November to €86,045,144  and 16% in the 11 months to €1,193,831,564. When including cash withdrawals, the figures were €111,103,404  for November recording a 16% increase and €1,460,377,501 so far this year, which is a 14% increase.

Other figures given by JCC:

Local cards in occupied areas and Turkey and Turkish cards in Cyprus

  • Turkish cards in Cyprus
    • Monthly: €1,960,894
    • YTD:  € 16,517,596
  • Local Cards in occupied areas
    • Monthly: €1,650,103
    • YTD:  € 19,034,135
  • Local cards in Turkey
    • Monthly: €379,350
    • YTD:  € 5,378,987

 

The sectors affected this month for the Cards used in Cyprus are:

Increase

  • Professional Services
  • Utilities
  • Restaurants, Bars and Catering
  • Electronics, Computers, Peripherals
  • Other food and drink shops and bakeries

Decrease

  • Do-It-Yourself & Household stores
  • Travel Agents

 

 

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