cyprus card — Cyprus card usage has surged, with the country ranking second in the euro area for non-cash transactions, according to the latest data from the European Central Bank (ECB). In the first half of 2025, card payments made up an impressive 74.5 per cent of all non-cash payments in Cyprus, representing a 1.4 percentage point increase from the previous year.
Cyprus card: Leading the Way in Non-Cash Transactions
This significant rise in card usage has positioned Cyprus among the leaders in the eurozone. Only Portugal surpassed Cyprus, with card payments comprising 75.7 per cent of non-cash transactions. Greece follows closely behind at 73 per cent, while Lithuania rounds out the top four with 72.8 per cent.
Trends in Payment Methods
In addition to card payments, credit transfers accounted for 16.1 per cent of transactions in Cyprus, a modest rise of 0.3 percentage points year-on-year. However, direct debits saw a slight decline, dropping to 4 per cent. E-money payments also diminished, now representing 3.2 per cent of total transactions, down 0.6 percentage points from the previous year.
A Growing Euro Area Landscape
The ECB highlighted that the total number of non-cash payments across the euro area reached a staggering 77.7 billion in the first half of 2025, marking a 7.7 per cent increase compared to the same period in 2024. The overall value of these transactions also rose, climbing by 2.9 per cent to €116.0 trillion.
Card Payments Dominate in the Eurozone
Across the eurozone, card payments accounted for 57 per cent of all non-cash transactions. Following card payments, credit transfers were next at 22 per cent, with direct debits at 14 per cent and e-money payments at 6 per cent. This shift towards card payments reflects a broader trend in consumer behaviour, as more individuals opt for the convenience and security of electronic transactions.
