Cypriots are using their cards more than ever, new data from the European central bank reveals. In the first half of 2024, card payments made up 73 per cent of all cashless transactions, a rise of 0.8 per cent from the same time last year.

Credit transfers accounted for 15.7 per cent of transactions, up by 0.5 per cent, while direct debits dropped to 4.4 per cent, a fall of 0.9 per cent. Payments made using electronic money grew by 0.7 per cent, reaching 3.7 per cent.

Across the eurozone, Lithuania topped the list with 78.1 per cent of payments made by card in the first half of 2024. Portugal came in second at 75 per cent, while Greece followed closely behind with 74.1 per cent.

Overall, cashless payments across the eurozone grew by 7.4 per cent, with card payments increasing by 10.3 per cent to reach 40.1 billion transactions. The total value of card payments also rose, hitting €1.5 trillion, an increase of 7 per cent. Contactless payments saw a huge jump, growing by 13.2 per cent to 25.8 billion transactions, worth a total of €0.7 trillion.