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Volume of credit card transactions declines in Oct

05/11/2014 10:21
The use of credit cards in the domestic market recorded a drop in October, according to JCC data released today.

The value of credit card transactions by Cypriots in the domestic market declined 3% to €203.6 million. In September they recorded an increase of 6%. The number of transactions increased by 4% to 2.8 million.

According to JCC, there was an increase in utilities and supermarkets and a decrease in government services and home appliance stores.

Without the government sector, the increase stood at 2%.

For the first ten months of 2014, the increase was 5% with the value of transactions reaching €1848.2 million.

According to the figures, a slight decline was registered in the use of credit cards by Cypriots abroad, which include online purchases.

Specifically, they dropped 1% to €103.2 million. In September they increased by 3%. The number of transactions remained unchanged and amounted to 974.4 thousand.
In the first ten months of the year, the use of credit cards by Cypriots abroad fell 10% to €961.1 million.

As for the non-Cypriots, the value of the use of credit cards rose by 9% in the tenth month of 2014 to €70 million. In September, the increase was 16%. Similarly, credit card transactions increased by 15% to 698.5 thousand.

For the period January-October 2014, credit card transactions by non-Cypriots in Cyprus rose 16% to €559.8 million compared to the corresponding period of 2013.