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December credit card activity stable

12/01/2015 10:39
The total value of domestic credit card transactions in December remained at €250 mil as in December 2013.

The volume of domestic credit card transactions by Cypriots recorded a decrease in December 2014, mitigating the positive tone of the year’s consumption.

The fall in gas and other goods prices contributed to the fall of the volume of credit card transactions. However, transactions by non-Cypriots filled the gap.

According to JCC, the value of credit card transactions by Cypriots in the domestic market fell by 2% to €217.7 million. In November, it increased by 4%.

The number of transactions increased by 1% to 3.4 million.

According to JCC, a decrease was registered in petrol category, clothing and footwear, household appliance stores and supermarkets while there was an increase in the government sector and from tax and fee payments.

Without the governmental sector, the increase was 3.5%.

The largest part of the total volume of credit card transactions in December was absorbed by supermarkets (€51,4 m), clothing and footwear (€35,3 m) and government services (€19,2 m).

For the period January – December 2014, the value of domestic credit card transactions by Cypriots rose by 4% to €2246 million.

The use of credit cards by Cypriots abroad, including online shopping, recorded an increase of 4% reaching €101 million. In November they increased by 1%. The number of transactions increased by 2% to 965 thousand.

For the whole of 2014, the value of credit card transactions by Cypriots abroad dropped by 8% to €1160 million.

As for the non-Cypriots, the value of transactions rose by 19% in December 2014 to €32.7 million. In November, the increase was 16%. The number of transactions soared 28% to 385 thousand.

For the period January-December 2014, transactions by non-Cypriots in Cyprus recorded an increase of 16% to €632 million compared to the corresponding period of 2013.