07/12/2011 12:48
The use of credit cards in the domestic market recorded an impressive increase this year. The financial crisis forced many consumers to cover their daily needs with the cards, since it seems that there is a lack of cash.
According to new JCC data, the use of credit cards continues to increase despite the downturn in consumption and the recession of the economy.
In November, the value of credit card transactions by Cypriots in the domestic market recorded an annual increase of 14% to €175.2 million. In October, this increase stood at 15%.
The number of transactions rose 9% to 2.4 million.
For the period January – November 2011, the value of credit cards transactions by Cypriots on the island rose 11% to €1949.5 million.
The use of credit cards by Cypriots abroad, including the internet purchases, has increased too.
Specifically, the credit card transactions by Cypriots abroad surged 11% to €112.1 million.
The number of transactions recorded an increase of 12% to 890.3 thousand.
In the first eleven months of the year, the use of credit cards by Cypriots abroad rose 10% to €1174.1 million.
With regard to the use of credit cards by non Cypriots, the increase is lower,
The value of credit card transactions by tourists in Cyprus in November inched up 3% to €29.7 million.
For the period January – November 2011, the value of the transactions increased by 10% to €450.7 million.
According to new JCC data, the use of credit cards continues to increase despite the downturn in consumption and the recession of the economy.
In November, the value of credit card transactions by Cypriots in the domestic market recorded an annual increase of 14% to €175.2 million. In October, this increase stood at 15%.
The number of transactions rose 9% to 2.4 million.
For the period January – November 2011, the value of credit cards transactions by Cypriots on the island rose 11% to €1949.5 million.
The use of credit cards by Cypriots abroad, including the internet purchases, has increased too.
Specifically, the credit card transactions by Cypriots abroad surged 11% to €112.1 million.
The number of transactions recorded an increase of 12% to 890.3 thousand.
In the first eleven months of the year, the use of credit cards by Cypriots abroad rose 10% to €1174.1 million.
With regard to the use of credit cards by non Cypriots, the increase is lower,
The value of credit card transactions by tourists in Cyprus in November inched up 3% to €29.7 million.
For the period January – November 2011, the value of the transactions increased by 10% to €450.7 million.
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