Plastic money transactions up 9% in February, JCC says

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By Stelios Orphanides

The value of plastic money transactions rose 9 per cent in February to €195.2m compared to the respective month of 2016, JCC Payment System Ltd said.

The value of transactions with the use of cards rose in January to February 8 per cent to €407.5m compared to the respective period of 2016, the payment processing company said in an emailed statement.

The value of transactions and cash withdrawals by holders of Cypriot card abroad rose an annual 8 per cent in February to €112.2m compared to the respective month of 2016 while in January to February, they rose 12 per cent to €237.3m, JCC said.

Holders of foreign cards purchased goods and services worth €39.9m in February and €78.9m in the first two months of the year which is 20 per cent and 21 per cent more compared to the respective period of 2016, JCC said.

The value of purchases with the use of Cypriot cards in the Turkish held area of Cyprus and Turkey was €616,404 and €171,341 respectively in February and €1.3m and €345,057 in the first two months of the year also respectively, JCC said. The value of purchases of holders of Turkish cards in the government controlled areas was €2m in February and €3.6m in January to February.

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About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: stelios@cyprus-mail.com