11/01/2006 14:05
The use of credit cards by Cypriots during holidays abroad is gradually becoming an article of first necessity.
According to JCC Payments data released on Wednesday, credit card transactions by Cypriots abroad in December 2005 recorded an increase of 26% to £15.8 million against an increase of 4% to £12.5 million in December 2004. For the full year 2005, the use of credit cards by Cypriots abroad showed an increase of 19% to £177.3 million against an increase of 11% to 149.5 million in 2004.
Domestic transactions
Domestic credit card transactions in December accelerated, while the use of credit cards in Cyprus for the full year 2005 slowed down.
Specifically, domestic transactions in December surged 13% to £80.2 million against £71.2 million in the corresponding month of 2004 (2004: 8%). For the full year 2005, the value of credit card transactions increased by 11% to £659.5 million against £591.1 million in 2004 (2004: 12%).
Transactions by foreigners
In December 2005, credit card transactions by foreigners in Cyprus increased by 3% (2004: -1%), while for 2005 they recorded an increase of 5% against an increase of 9% in 2004.
According to JCC Payments data released on Wednesday, credit card transactions by Cypriots abroad in December 2005 recorded an increase of 26% to £15.8 million against an increase of 4% to £12.5 million in December 2004. For the full year 2005, the use of credit cards by Cypriots abroad showed an increase of 19% to £177.3 million against an increase of 11% to 149.5 million in 2004.
Domestic transactions
Domestic credit card transactions in December accelerated, while the use of credit cards in Cyprus for the full year 2005 slowed down.
Specifically, domestic transactions in December surged 13% to £80.2 million against £71.2 million in the corresponding month of 2004 (2004: 8%). For the full year 2005, the value of credit card transactions increased by 11% to £659.5 million against £591.1 million in 2004 (2004: 12%).
Transactions by foreigners
In December 2005, credit card transactions by foreigners in Cyprus increased by 3% (2004: -1%), while for 2005 they recorded an increase of 5% against an increase of 9% in 2004.
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