Bank transfers accounted for 85% of the total value of government receipts in Cyprus during the first half of 2026, highlighting the state’s rapid shift toward digital payments, accountant-general Andreas Antoniades told the Cyprus News Agency.
Online payments made up another 10% of receipts, while electronic payments made in person represented 1%. Traditional payment methods accounted for just 4%.
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Antoniades said electronic payment channels were now “universal in the state”, with digital methods for settling government debts continuing to gain ground. He described the figures as evidence of steady progress toward the complete digitalisation of state transactions.
New €4.1m Payment System
The shift is expected to accelerate following a new contract for processing electronic government transactions, signed with VivaBank Single-member Banking Company on August 12.
The €4.1 million contract was awarded through a tender conducted by the Treasury of the Republic, with the new technical solution expected to be implemented during 2027. Services will initially run for three years, with the government holding an option to extend the agreement by a further two years.
Until the new system is operational, card payments to the state will continue to be processed under the existing contract with JCC Payment Systems Limited, which was recently renewed. Around €1.5 billion in government receipts is processed through JCC each year, according to Antoniades.
Traditional Payments Being Phased Out
Cyprus is also gradually eliminating traditional payment methods. Personal cheques have not been accepted from individuals or businesses since January 1, 2026, while banker’s drafts remain temporarily available. The government plans to withdraw those as well, leaving cash as the only traditional payment option.
Cash is currently accepted for transactions of up to €10,000.
Antoniades said the move toward digital payments forms part of the state’s broader digital transformation, improving the speed, accessibility and transparency of public services while reducing administrative costs and the operational burden on government.
The continued expansion of digital infrastructure and payment solutions, he added, should help create a more efficient and citizen-friendly public administration while making better use of public resources.
