Central Bank data shows that 65.9% of transactions in Cyprus in the second half of 2022 were conducted using credit cards marking a 2.8% increase compared to the first six months of the year. The total amount recorded was €118.8 trillion.
Specifically, credit card payments accounted for 54% of total non-cash ones in the second half of 2022 while credit transfers were for 20%, direct debits for 16% and e-money for 7%.
The number of payment cards issued in the second half of 2022 increased by 3.8% to €704.8 million compared to the previous six months, an average of two payment cards per euro area resident with the average value being around €41 per card transaction.
In the euro area at large, around 29.4 billion transactions processed by retail payment systems, worth €23.5 trillion, are now being carried out via retail payment systems.
In Cyprus, the share of card payments as a percentage of total non-cash payments in the second half of 2022 was 68.3%, up 1.55% compared to the first half of 2022.
Specifically: Belgium 59.6%, Germany 39%, Estonia 39%, Estonia 66.7%, Ireland 66.8%, Greece 73%, Spain 66.9%, France 62.3%, Italy 57.5%, Latvia 61.2%, Lithuania 71%, Malta 64.1%, Netherlands 50%, Austria 54.2%, Portugal 75.2%, Slovenia 56.5%, Slovakia 65.1%, Finland 64.8%.