Plastic money transactions surge 15% in March

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By Stelios Orphanides

The value of transactions Cypriots carried out in Cyprus in March with the use of plastic money rose 15 per cent to €225.8m compared to the respective month of 2016, company JCC Payments Systems Ltd said.

As a result, the value of transactions with the use of bank cards in the first quarter of the year rose an annual 10 per cent to €633.2m, the payment processing company said in an emailed statement.

The value of transactions by holders of Cypriot cards abroad rose last month 15 per cent to €113.4m and in January to March 13 per cent to €368.2m compared to the respective period of 2016, JCC said. Visitors used their cards for purchases in Cyprus to the value of €52.6m last month and €131.5m in the first quarter compared to the respective period last year

The value of transactions of holders of Cypriot cards in the Turkish occupied areas and Turkey was €688,434 and €156,806 in March and €2m and €501,863 in the first three months of the year respectively, JCC said. Holders of Turkish cards spent in March €2m for purchases in the government controlled areas and €5.6m in the first quarter.

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About Author

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

  • Cydee

    Anyone remember the days before credit cards were invented? When you saved-up for something you wanted?

  • costas

    Cyprus is once again prospering