Insider Business Use of cards soars in the first 8 months, records significant increase...

Use of cards soars in the first 8 months, records significant increase in August

The use of cards soared between January and August, figures released by JCC on Wednesday showed, while a significant increase was recorded in the eighth month of the year.

During the first eight months of 2019, transactions with local cards in Cyprus recorded an annual increase of 17% rising to €2.62 b , whereas a smaller increase of 8% was recorded in the use of local cards abroad, which stood at €1.24 b.

Transactions with foreign cards in Cyprus also recorded a large annual increase of 15% in the first eight months of the year reaching €1.03 b.

The use of local cards in Cyprus in August rose to €421.8 m increasing by 6% compared with the same month last year. The use of local cards abroad increased by 13% annually and valued at €176.2 m.

The use of foreign cards in Cyprus in the eighth month of the year rose by 12% on an annual basis reaching €175 m.

Transactions with local cards in the Turkish-occupied areas of Cyprus stood at €2.11 m in August and at €14 m between January and August.

The use of local cards in Turkey amounted to €725,228 in August and to €4 m in the first eight months of 2019, while transactions with Turkish cards in Cyprus stood at €1.77 m in August and at €11.4 m from January to August.

(Cyprus News Agency)

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