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Credit card use boosted in December

15/01/2016 12:02
The use of credit cards in domestic market recorded strong growth in December according to new data released by the JCC, reflecting the gradual improvement in consumption.

The payment of the 13th salary to employees boosted consumption in the last month of the year, from Cypriots and foreigners.

The value of credit card transactions by Cypriots in the domestic market grew by 12% in December compared to last year, reaching €244.7 mn. The number of transactions reached 3.8 mn recording an increase of 12%. In November there was an increase of 13% in the use of credit cards by Cypriots in the domestic market.

According to the JCC, in December 2015 an increase was seen in government, utilities, supermarkets and clothing, shoes and accessories stores.

The local cards used in Cyprus without the government sector recorded a 10% increase in December 2015.

In 2015 the use of credit cards by Cypriots recorded an increase of 3% to €2309.6 mn.

The use of credit cards by Cypriots abroad including online shopping reached € 118.1 mn in December 2015 recording an increase of 17%. In November, an increase of 9% was recorded. The number of transactions increased by 9% to 1.1 mn.

In 2015 the use of cards by Cypriots abroad rose by 5% reaching € 1212.4 mn.

As regards non-Cypriots, the value of credit cards transactions increased by 15% in December to €37.8 mn. In November, the increase amounted to 6%.

An increase of 16% was recorded also in the number of transactions that reached 445.3 thousand.

In 2015 credit card transactions of non-Cypriots increased by 8% to € 683.8 mn.