Payabl. Joins The Association Of Cyprus International Financial Firms

by THEFUTURE.TEAM

August 8, 2024

Payabl., a leading European PayTech company, has officially joined the Association of Cyprus International Financial Firms (ACIFF). This membership marks a significant milestone for Payabl., enhancing its influence and role within the financial sector.

Strategic Importance

Founded in 2009, ACIFF represents over 90 regulated firms, aiming to promote industry growth, protect investors, and support its members and regulators. By joining ACIFF, Payabl. gains a platform for collaboration, education, and advocacy, ensuring its voice is heard on both national and international stages.

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Leadership Perspective

Ugne Buraciene, Group CEO of Payabl., commented on the importance of this membership, emphasizing opportunities for engaging with industry leaders and shaping financial policies and practices. Demetris Taxitaris, ACIFF Chairman, expressed delight in welcoming Payabl., highlighting the company’s commitment to innovation and excellence in the financial sector.

This move positions Payabl. at the forefront of the financial services industry in Cyprus, allowing it to engage in meaningful discussions, participate in exclusive networking events, and contribute to the development of new standards and best practices. The collaboration between Payabl. and ACIFF is expected to shape the future of financial services in Cyprus and beyond.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

July 24, 2026

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

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