Insider Economy Local credit car use down in September due to drop in government...

Local credit car use down in September due to drop in government payments

Local credit card use fell 11% in September compared to the previous month but was up an annual 14%, credit card clearing firm JCC said on Monday.

The monthly decrease for local cards in Cyprus is mainly affected by Government Sector decrease, due to the Inland Revenue Department payments in the previous month, it clarified.

JCC’s figures show:

  • Local and Foreign Cards in Cyprus and Abroad
  • Local Cards used in Cyprus (Sales)
    • Monthly: 275,068,463 11% decrease
    • YTD:  € 2,903,017,746 14% increase
  • Local Cards used Abroad (Sales and Cash withdrawals)
    • Monthly: 162,817,264 13% increase
    • YTD:  €1,411,214,813 9% increase
  • Foreign Cards used in Cyprus: (Sales)
    • Monthly: 132,036,911 10% increase
    • YTD:  €975,280,226 16% increase
  • Foreign Cards used in Cyprus: (Sales and Cash withdrawals)
    • Monthly: 159,536,111 10% increase
    • YTD:  €1,188,366,283 16% increase

 

  • Local cards in occupied areas and Turkey and Turkish cards in Cyprus
  • Turkish cards in Cyprus
    • Monthly: €1,561,038
    • YTD:  €12,976,059
  • Local Cards in occupied areas
    • Monthly: 1,785,686
    • YTD:  €15,663,967
  • Local cards in Turkey
    • Monthly: 541,994
    • YTD:  €4,456,403

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

Increase

  • Supermarkets
  • Utilities
  • Restaurants, Bars and Catering
  • Hotels
  • Professional services

Decrease

  • Do-It-Yourself & Household stores
  • Government

 

Important Notes:

  • The total monthly increase without the Government sector is 5% (YTD is 8%)
  • The local monthly increase without the Government sector is 11% (YTD is 8%)

 

 

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