Cyprus credit card use slows down

Credit card purchases in Cyprus have recorded a decrease in January-July 2013, compared to the same period of last year, according to data released by clearing house JCC Payment Systems.

The purchases during the above period stood at 1,200.3 mln euros and were down by 9% compared to last year. The amount of transactions carried out by visa cards was also down by 4%. The average amount in visa transactions was 69 euros compared to 73 in 2012.

According to the data, in July the amount of transactions using credit cards amounted to 186.1 mln euros, recording a decrease of 5% compared to 2012.

More particularly, 2.02% of the transactions related to supermarkets, 12,26% to clothing, shoes and accessories stores, 10,60% to petrol stations, 6,88% to pubs and restaurants and 4,35% to utility bills payments.

As regard the purchases and money withdrawals by Cypriots abroad, the JCC data show a decrease of 4% in January-July 2013.

Those transactions amounted to 763.70 mln euros and the average transaction was 129 euros compared to 137 last year.

The July records show a decrease in purchases and withdrawals of 12%, amounting to 104.79 mln euros.

The data also show an increase of 2% in the use of visa cards by tourists in Cyprus, accounting for 287.46 mln euros. The July increase was 3% and amounted to 66.50 mln euros.