The total value of credit card payments in Cyprus increased significantly between 2000 and 2023, despite some fluctuations after 2008. In 2023, credit card payments in the country exceeded two billion euros. This was the highest value reached during this period. For many markets in Central and Eastern Europe, the regulatory and financial support afforded by the European Union membership provided strong potential for sustained growth in the credit card market. For example, in Czechia, the penetration of credit cards was 25 percent in 2019. Originally denominated in euros, the data was converted to U.S. dollars by Statista to allow for cross-country comparisons worldwide.
Value of credit card transactions for payments in Cyprus from 2000 to 2023
(in million euros, and estimates in U.S. dollars)
2022 figures and beyond - release date November 2023 and later - made significant strides in reporting quality - causing a sometimes significant break in methodology in individual countries. Statista sometimes still had to calculate figures, however, as card figures were split between non-remote and remote use cases.
2021 figures and before - with a release date of July 2022, or earlier - are all Statista estimates. Statista used the following indicators - which did not return after the figures covering 2022 - for Austria:
1. Credit cards
Number of cards with a credit function.
2. Debit cards
Number of cards with a debit function.
The following additional sources have been used to provide further context to these figures:
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Statista. (July 25, 2024). Value of credit card transactions for payments in Cyprus from 2000 to 2023 (in million euros, and estimates in U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/751450/value-of-credit-card-payments-in-cyprus/
Statista. "Value of credit card transactions for payments in Cyprus from 2000 to 2023 (in million euros, and estimates in U.S. dollars)." Chart. July 25, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/751450/value-of-credit-card-payments-in-cyprus/
Statista. (2024). Value of credit card transactions for payments in Cyprus from 2000 to 2023 (in million euros, and estimates in U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/751450/value-of-credit-card-payments-in-cyprus/
Statista. "Value of Credit Card Transactions for Payments in Cyprus from 2000 to 2023 (in Million Euros, and Estimates in U.S. Dollars)." Statista, Statista Inc., 25 Jul 2024, https://www.statista.com/statistics/751450/value-of-credit-card-payments-in-cyprus/
Statista, Value of credit card transactions for payments in Cyprus from 2000 to 2023 (in million euros, and estimates in U.S. dollars) Statista, https://www.statista.com/statistics/751450/value-of-credit-card-payments-in-cyprus/ (last visited November 21, 2024)
Value of credit card transactions for payments in Cyprus from 2000 to 2023 (in million euros, and estimates in U.S. dollars) [Graph], Statista, July 25, 2024. [Online]. Available: https://www.statista.com/statistics/751450/value-of-credit-card-payments-in-cyprus/