You are here

Slow start for credit card use

04/02/2016 11:40
The use of credit cards in the domestic market recorded a decline in January according to new data released by the JCC, with the decrease being attributed to the different deadlines for the payment of the road tax licenses.

The value of credit card transactions by Cypriots in the domestic market fell by 4% in January compared to last year, reaching €198,5 mn. The number of transactions reached 3,1 mn recording an increase of 3%. In December 2015 there was an increase of 12% in the use of credit cards by Cypriots in the domestic market while for the entire 2015 the corresponding increase reached 3%.

According to the JCC, in January 2016 an increase was seen in restaurants, bars, catering and supermarkets while a decrease of 21% was recorded in government related expenses.

Excluding the government category an overall increase of 3,5% occurred.

The use of credit cards by Cypriots abroad including online shopping reached €109,2 mn in January 2016 recording an increase of 13%. In December, an increase of 17% was recorded. The number of transactions increased by 12% to 998 thousand.

As regards non-Cypriots, the value of credit cards transactions increased by 4% in January to €32,1 mn. In December, the increase amounted to 15%.

An increase of 7% was recorded also in the number of transactions that reached 380,5 thousand.