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Supermarkets leading credit card usage

14/05/2015 07:19
Supermarkets and government agencies absorbed the largest volume of credit cards used in Cyprus in the first four months of 2015.

According to JCC, the amount of money spent in supermarkets with credit cards amounted to € 170,2 mn compared to € 163,3 mn in the corresponding period of 2014, recording an increase of 4,2%.

The amount of € 151,9 mn was paid by credit card at government agencies against € 159,6 mn last year recording a decrease of 4,8%.

According to the executive chairman of RAI Consultants Olympios Toumazos, "the increase in the use of credit cards in Cyprus is due to tourist expenses and not to Cypriots, therefore there cannot be a safe figure for domestic consumption."

The category of clothing and footwear is next with a turnover of € 79 mn paid by credit cards, compared to € 76,4 mn in the corresponding period of 2014. An increase of 3.4% was recorded.

At petrol stations the amount of € 57,8 mn was spent versus €64,1 mn. last year, recording a decrease of 9,7%.

The amount of €56,1 mn. was absorbed by utilities, such as water supply and the electricity authority.

The amount spent with credit cards at hotels recorded a significant increase of 13.5%, reaching € 41,4 mn from € 36,5 mn.

Household stores come next on the list with €40,7 mn and restaurants and bars follow with €35,7 mn.

In the health sector the amount of €26,9 mn was paid with credit cards, while €24,2 mn was paid at pharmacies.

The total amount paid with credit cards in Cyprus by locals and foreigners reached € 865,8 mn from €858,4 mn last year, rising by 0.9%.