Kiosks, bakeries and restaurants saw an increase in credit card transactions, according to figures published by JCC for the period until 30 September 2020.
According to these figures, credit card transactions in kiosks increased by 73%, in bakeries and confectioneries 49% and in restaurants 87%.
A detailed analysis follows:
- Local and Foreign Cards in Cyprus and Abroad
-Local Cards used in Cyprus (Sales)
Quarter 3 2020: €1,538,785,727 – 22% increase
-Local Cards used Abroad (Sales and Cash withdrawals)
Quarter 3 2020: €331,972,961 – 19% decrease
-Foreign Cards used in Cyprus: (Sales)
Quarter 3 2020: €169,323,506 54% decrease
-Foreign Cards used in Cyprus: (Sales and Cash withdrawals)
Quarter 3 2020: €221,360,360 49% decrease
- Local cards in occupied areas and Turkish cards in Cyprus
-Turkish cards in Cyprus
Quarter 3 2020: €1,203,518
-Local Cards in occupied areas
Quarter 3 2020: €545,525
Source: In-Cyprus
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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.
Read Georg Bühler's Insight
