Insider / ΚΥΠΕ
A 72% increase in transactions using cards for payment of professional services, occurred in the months of September to November 2021, according to data provided by JCC to KYPE. The period of the increase coincides with the application of the “Decree on the Confirmation and Collection of Taxes of Decree 2021”, which concerned the obligation of certain categories of companies to accept cards as a means of payment.
Other categories of companies in which there was a significant change in the use of cards during the same period, catering (increase 58%), electrical and electronics stores (39%), fuel (38%) and hairdressers and beauty salons (35%) ).
Overall, in 2021, card transactions in Cyprus increased by 15% compared to 2020, according to JCC data. At the same time, Cypriot card transactions abroad increased by 28% over the same period.
Specifically, in 2021 transactions were made with cards worth € 6.87 billion, while in 2020 the corresponding transactions were € 5.96 billion. It is noted that the transactions recorded in Cyprus include transactions with both Cypriot and foreign cards.
In addition, transactions with Cypriot cards made abroad amounted to € 2.04 billion in 2021, while in 2020 it was € 1.59 billion.
