Use of local cards increases significantly in Q2

The use of local cards in Cyprus and abroad recorded a significant annual increase between April and June 2021, data from the card-processing organisation JCC showed.

Th use of local cards, issued by banks registered in Cyprus, in the second quarter of 2021 rose to €1.5 bn, an annual increase of 16%.

The use of local cards abroad recorded an even bigger increase of 46% and amounted to €472 mn.

The use of foreign cards was up by an impressive 155% in the second quarter, compared to the same period last year, reaching €184,8 mn. An increase of 113% was recorded in the use of foreign cards in Cyprus, both for sales and withdrawals amounting to €231,6 mn.

JCC said that the use of Turkish cards in Cyprus reached €1,18 mn in Q2, whereas the use of local cards in the Turkish occupied areas of Cyprus amounted to approximately €1,21 mn.