Payment Card Year Books


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A newer version of this product can be found here

Payment Organization 

JCC Payment Systems; JCC is owned by five major banks. 

Domestic Card Brand 


Market Structure 

  • JCC is the central body in the Cypriot card business market, managing the domestic POS/ATM networks and most acquirer transactions. 
  • The credit card sector has been relatively mature for some years, but debit card use is now higher than credit card use. 
  • POS payments have outnumbered ATM withdrawals by value and by number. 
  • Due to the Euro crisis, in 2014, payments on cards use in Cyprus saw a decline by number and by value while cash withdrawals on cards grew significantly at the same time. 
  • Around 40,000 Russians live in Cyprus for at least half the year. Thus, Russian language ATMs and POS terminals are provided. 
  • Economic Adjustment programme (€10 billion) agreed between the Cypriot authorities and the ‘Troika’; Cypriot bank sector restructured in 2012-13 following the euro crisis. 

Notable Market Trends 

Contactless cards, MPOS terminals, QR-codes, no NFC pilot.

Updated Information About:

Major Issuers, Major Acquirers, Major Processors and Consumer Finance indicator. 

Statistical Key Figures for 2015 provided in this profile:

  • UPDATED: tables with card business data 2011-2015; growth rates: Y-o-Y, CAGR
  • Population, Cards per Capita, Card Value per Capita
  • Debit Cards, Credit/Delayed Debit Cards, Total Cards
  • Card payments by number and by value, ATV per card, payments per card/year
  • ATMs, POS terminals, ATMs/POS terminals per 1 million capita
  • ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
  • POS payments by number/by value, ATV per POS payment, TXs per POS/month
  • Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
  • Issued Card brands by individual major issuer bank
  • Accepted card brands by individual major acquirer
  • Drill down into the debit card use and credit cards use details

Product information

Digital product provided in PDF format. You will receive a download link to a zip file containing your files after checkout. 


1.1(090117) last updated 9th January 2017