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Value of credit card payments in Cyprus 2013-2018

This statistic displays the development in the value of payments made with a card that have a credit function in Cyprus from 2013 to 2018 in billion euros. The value of payments with a card with a credit function remained relatively constant during the period under observation. In 2018, the value of payments amounted to approximately 1.6 billion euros.

Total value of payments made with cards that have a credit function in Cyprus from 2013 to 2018

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Source

Release date

August 2019

Region

Cyprus

Survey time period

2013 to 2018

Supplementary notes

Cards issued by resident payment service providers (PSPs).

The source added the following information "A card enabling cardholders to make purchases and in some cases also to withdraw cash up to a pre-arranged ceiling. The credit granted can be settled in full by the end of a specified period or may be settled in part, with the balance taken as extended credit on which interest is usually charged. The holder is sometimes charged other fees, such as an annual fee. The distinguishing feature of a card with a credit function, in contrast to a card with a debit function or a delayed debit function, is the contractual agreement granting the cardholder a credit line allowing for extended credit (irrespective of whether the cardholder actually makes use of this feature or chooses to settle the full amount of the debt incurred at the end of a specified period)."

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