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Credit card use increases

16/12/2015 10:26
The use of credit cards continued to increase significantly in the domestic market in November, according to new figures by JCC.

The value of credit card transactions by Cypriots in the domestic market grew by 13% in November compared to last year, reaching € 203,4 mn. The number of transactions reached 3 mn recording an increase of 6%. In October there was an increase of 10% in the use of credit cards by Cypriots in the domestic market.

According to JCC, in November 2015 an increase was seen in government and utilities. In contrast, a decrease was recorded in petrol, domestic appliances and shoes and clothing.

In the first eleven months of 2015 the use of credit cards by Cypriots recorded an increase of 2% to €2.064,8 mn.

The use of credit cards by Cypriots abroad including online shopping reached € 106,9 mn in November 2015 recording an increase of 9%. In October, an increase of 8% was recorded. The number of transactions increased by 6% to 1 mn.

In the first eleven months of 2015 the use of cards by Cypriots abroad rose by 3% reaching € 1.094,4 mn.

As regards non-Cypriots, the value of credit cards transactions increased by 6% in November to €42,4 mn. In October, the increase amounted to 5%.

An increase of 9% was recorded also in the number of transactions that reached 481,8 thousand.

In January-November 2015 credit card transactions of non-Cypriots increased by 8% to € 646 mn.