Credit Transfers Dominate Cyprus Payment Landscape Amid Digital and Traditional Trends

Credit Transfers Lead the Way in Cyprus

A recent report by the Central Bank of Cyprus (CBC) underscores the enduring appeal of credit transfers in the local economy. Accounting for 83 percent of the total transaction value, credit transfers remain the primary non-cash payment method, with an average transaction value of €4,402.

Cheques and Cards: Evolving Roles in the Payment Ecosystem

Despite the rapid advancement of digital payment solutions, cheques continue to hold significant relevance in Cyprus, contributing 7 percent of total transaction value with an impressive average payment of €3,615—three times higher than the euro area average of €1,140. Conversely, payment cards, used in 74 percent of transactions, are favored for lower-value purchases, exemplified by an average card transaction of €39. This duality highlights a distinctive payment behavior pattern in Cyprus, blending both traditional and modern payment methods.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Robust Digital and Contactless Infrastructure

The CBC report further reveals a pronounced preference for high-value online card payments, with the average online payment amount reaching €127—placing Cyprus among the top performers within the euro area. A robust contactless infrastructure bolsters this trend, as evidenced by over 75 percent of ATMs in Cyprus supporting contactless card technology, compared to only 33 percent in the broader euro area.

Growth in Payment Institutions and Future Prospects

Additionally, the number of licensed payment and electronic money institutions rose slightly from 36 in 2023 to 38 in 2024, reinforcing Cyprus’ position as one of the most institutionally advanced markets per capita in the euro area. This stability and growth present a promising outlook, as businesses and consumers continue to adapt to a hybrid payment landscape that leverages both digital innovation and established financial instruments.

The Future Forbes Realty Global Properties

EU Moderates Emissions While Sustaining Economic Momentum

by THEFUTURE.TEAM

November 15, 2025

The European Union witnessed a modest decline in greenhouse gas emissions in the second quarter of 2025, as reported by Eurostat. Emissions across the EU registered at 772 million tonnes of CO₂-equivalents, marking a 0.4 percent reduction from 775 million tonnes in the same period of 2024. Concurrently, the EU’s gross domestic product rose by 1.3 percent, reinforcing the ongoing decoupling between economic growth and environmental impact.

Sector-By-Sector Performance

Within the broader statistics on emissions by economic activity, the energy sector—specifically electricity, gas, steam, and air conditioning supply—experienced the most significant drop, declining by 2.9 percent. In comparison, the manufacturing sector and transportation and storage both achieved a 0.4 percent reduction. However, household emissions bucked the trend, increasing by 1.0 percent over the same period.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

National Highlights And Notable Exceptions

Among EU member states, 12 reported a reduction in emissions, while 14 saw increases, and Estonia’s figures remained static. Notably, Slovenia, the Netherlands, and Finland recorded the most pronounced declines at 8.6 percent, 5.9 percent, and 4.2 percent respectively. Of the 12 countries reducing emissions, three—Finland, Germany, and Luxembourg—also experienced a contraction in GDP growth.

Dual Achievement: Environmental And Economic Goals

In an encouraging development, nine member states, including Cyprus, managed to lower their emissions while maintaining economic expansion. This dual achievement—reducing environmental impact while fostering economic activity—is a trend that has increasingly influenced EU climate policies. Other nations that successfully balanced these outcomes include Austria, Denmark, France, Italy, the Netherlands, Romania, Slovenia, and Sweden.

Conclusion

As the EU continues to navigate its climate commitments, these quarterly insights underscore a gradual yet significant shift toward balancing emissions reductions with robust economic growth. The evolving landscape highlights the critical need for sustainable strategies that not only mitigate environmental risks but also invigorate economic resilience.

Breaking news