Debit transactions with credit in possessions doubled

Record transactions for August

C7BA2B23 A3A9 43D7 947F E284B8E69235

More than doubled, reaching €29,37 million, were the transactions carried out in the occupied territories, via credit cards, by Cypriot citizens residing in the free areas, during the first eight months of 2022, compared to the corresponding period of 2019 (before pandemic), according to data from the JCC Smart payment system secured by the KYPE.

It is impressive that the transactions made in August 2022 alone exceeded the transactions made in the entire eight months of 2021, a year when there were restrictions on trading due to the coronavirus pandemic.

Specifically, according to JCC data, credit card transactions in the first eight months of 2022 totaled €29.374.535, compared to €13.878.281 in the corresponding period of 2019. In the same period of 2021, transactions had risen to just at €4.554.166.

In August 2022 alone, according to the data, transactions reached a record €4.842.259. For comparison purposes in August 2019 the transactions had risen to €2.111.605, while in the same period of 2021 they had risen to only €1.726.844.

In more detail, during the month in the year 2022, in January the transactions amounted to €2,53 million, in February to €2,40 million, in March to €2,97 million, in April to €3,78 million. , in May at €4,05 million, in June at €4,39 million and in July at €4,38 million.

It is noted that from 2019 until today, the use of cards by Cypriot citizens has almost doubled across the spectrum of the market, which is also reflected in the use of cards in the occupied territories.

Also, it is reported that in 2021, as in 2020, there were restrictions on traffic to and from the occupied territories, due to the coronavirus pandemic.

Source: KYPE