In January to September, the overall value of card purchases by Cypriots in Cyprus rose 6% to €1.7bn, JCC, the payment processing company, which is a consortium of Cypriot banks, said in an emailed statement on Friday.
The value of cash withdrawals or purchases abroad by holders of Cypriot cards rose in September 15% to €122.9m and 19% in the first nine months of the year to over €1bn compared to the respective 2015 period, JCC said.
The value spent by tourists for purchases from merchants in Cyprus rose an annual 16% to €86.8m in September and 12% in January to September to €594.5m, JCC said.
The value spent by holders of Turkish cards in the government-controlled areas in September was €2.8m and in January to September €19.m, JCC said. On the other hand, Cypriots spent in September with the use of cards €510,220 in the north of the island and €236,421 in Turkey. In the first three quarters of the year, the respective values were €5.5m and €2.3m.
Source: Cyprus Mail
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Georg Bühler, ,
Digital assets are no longer a niche, but a part of modern finance attracting a growing number of investors – and there is immense potential for Cyprus to become a leading cryptocurrency hub. By fostering a more inclusive regulatory ecosystem, Cyprus can diversify its financial services sector and position itself at the forefront of digital finance, says Georg Bühler, Managing Director of Mount Pelion Capital.
Read Georg Bühler's Insight
