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€3.5bn spent via credit cards

11/01/2012 10:09
Cypriots spent €3.5 billion in Cyprus and abroad in 2011 via credit cards.

The lack of liquidity together with the increased number of state services accepting credit cards pushed the turnover via JCC sharply up. It currently stands at one fifth of the Cypriot GDP.

Around €2.2 billion concern purchases by Cypriots in Cyprus and €1.3 billion purchases by Cypriots abroad.

According to new JCC data, the value of credit card transactions by Cypriots in the domestic market rose 11% to €2205.5 million.

The value of credit card transactions abroad, including purchases via internet, has recorded a significant increase too.

In 2011, the value of credit card transactions by Cypriots abroad rose 10% to €1284.9 million.

For the period January – December 2011, the value of credit card transactions by non-Cypriots in Cyprus recorded an increase of 10% to €473.2 million.