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Large increase in credit card use

12/11/2015 11:55
The use of credit cards Increased significantly in the domestic market in October, according to new figures by the JCC.

The value of credit card transactions by Cypriots in the domestic market grew by 10% in October compared to last year, reaching € 224,4 mn. The number of transactions reached 3.1 mn recording an increase of 10%. In September there was a decrease of 1% in the use of credit cards by Cypriots in the domestic market.

According to the JCC, in October 2015 an increase was seen in government, utilities and supermarkets.
In contrast, a decrease was recorded in petrol.

The local cards used in Cyprus excluding the government sector recorded a 7% increase in October 2015.

In the first ten months of 2015 the use of credit cards by Cypriots recorded an increase of 1% to €1861,4 million.

The use of credit cards by Cypriots abroad including online shopping reached € 111,3 mn in October 2015 recording an increase of 8%. In September, an increase of 5% was recorded. The number of transactions increased by 6% to 1 mn.

In the first ten months of 2015 the use of cards by Cypriots abroad rose by 3% reaching € 987,4 mn.

As regards non-Cypriots, the value of credit cards transactions increased by 5% in October to €73,3 mn. In September, the increase also amounted to 5%.

An increase of 7% was recorded also in the number of transactions that reached 744.4 thousand.

In January-October 2015 credit card transactions of non-Cypriots increased by 8% to € 603,6 mn.