ATMs processed withdrawals worth €2.5 billion in the first half of 2025, according to data from the Central Bank of Cyprus (CBC), even as the total volume of transactions declined compared with the same period last year.
The CBC report attributes the stable overall value to a sharp rise in the average withdrawal amount, which climbed 28% between the end of H1 2022 and the end of H1 2025 — from €291 to €372.
Cyprus also stands out within the eurozone for contactless adoption: more than seven in ten ATMs on the island accept contactless cards, compared with just 34% across the euro area.
Two cards per Cypriot
The total number of credit cards in circulation rose 7% to reach two million in the first half of 2025 — an average of two cards per Cypriot.
Credit cards are the most popular payment method on the island, accounting for 75% of total transaction volume, and Cyprus ranks second in the eurozone for card payment frequency, behind only Portugal.
Debit cards dominate the market, with Cypriots 85% more likely to hold a debit card than a credit or deferred-debit card. Visa and Mastercard are the most widely used networks, with the island’s systemic banks offering both.
The CBC data also highlights a notable divergence between in-store and online spending. The average card payment at a physical point-of-sale terminal stands at €37, slightly above the eurozone average of €33.
Online transactions tell a different story: the average online payment in Cyprus reaches €125 — more than double the eurozone average of €60.