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Small increase in credit card volume

08/06/2015 10:34
The use of credit cards recorded a small increase in May 2015, according to new JCC figures.

The value of credit card transactions by Cypriots in the domestic market increased by 1% to € 175,3 mn while the number of transactions increased by 6% to 2.9 mn.

In April, the use of credit cards by Cypriots in the domestic market recorded a 2% decrease.

According to JCC, an increase was recorded in clothing, shoes and accessories, supermarkets and restaurants, bars and catering while the categories of government, petrol and utilities, recorded a decrease.

The overall monthly usage without the Government sector rose by 2%.

In the first five months of 2015 the use of credit cards by Cypriots recorded a decrease of 1% to € 892,4 mn.

Besides the domestic market, JCC data show that a small increase occurred in the use of credit cards by Cypriots abroad, which includes online shopping.

The use of credit cards by Cypriots abroad reached €98 mn in May, recording an increase of 1%. The number of transactions fell by 1% to 901.4 thousand.

In the first five months of 2015 the use of cards by Cypriots abroad increased by 1% to € 470,6 mn.

As for the non-Cypriots, the value of transactions increased in the fifth month of the year by 9% to €68,9 million. In April, the increase reached 13%.

A rise of 13% was also recorded in the number of transactions which reached 723.1 thousand.

In the January-May 2015 period, credit card transactions of non-Cypriots increased by 13% reaching €217,6 mn.