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Cyprus Sees Strong Banking Growth In December 2024 As Loan Demand Rebounds

by THEFUTURE.TEAM

January 30, 2025

Cyprus closed out 2024 with a surge in banking activity, as both loan demand and deposits recorded significant increases, according to the latest Monetary and Financial Statistics from the Central Bank of Cyprus (CBC).

Loan Growth Accelerates

Total loans saw a net increase of €503.2 million in December, reversing a slight €1.8 million decline from the previous month. The annual growth rate of total loans accelerated to 2.8%, up from 1.9% in November, bringing outstanding loans to €25.4 billion.

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Loans to Cyprus residents rose by €150.7 million.
Household borrowing increased by €111.3 million.
Loans to non-financial corporations also climbed by €111.4 million.
Other domestic sectors experienced a net decline of €72.0 million in loan uptake.

Deposits See Strongest Monthly Gain Of The Year

December also saw a significant rise in total deposits, with a net increase of €977.4 million, far exceeding November’s €91.6 million gain. The annual deposit growth rate climbed to 6.6%, up from 5.4% in November, pushing total deposit volume to €55.9 billion by year-end.

Deposits from Cyprus residents grew by €877.2 million.
Household deposits led the increase, rising €594.5 million.
Deposits from non-financial corporations declined by €135.3 million.
Other domestic sectors contributed an additional €418.0 million in deposits.

Seasonal Trends And Economic Resilience

The CBC attributed the strong deposit inflow in December to seasonal factors, highlighting the resilience of the Cypriot banking sector as loan activity picked up after a slower period. With rising deposit levels and increasing borrowing demand, Cyprus enters 2025 with a strengthened financial system, positioning its banks for continued growth and stability.

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Airbnb Unveils Reserve Now, Pay Later Option For U.S. Guests

by THEFUTURE.TEAM

August 15, 2025

Introduction

Airbnb has introduced an innovative payment solution designed to enhance user flexibility for U.S. travellers. The new “Reserve Now, Pay Later” feature enables users to secure a booking without an upfront payment, offering a streamlined cancellation process should plans change.

Flexible Payment Terms

This new option applies to listings that feature either flexible or moderate cancellation policies. Under a flexible policy, guests can cancel their reservation up to 24 hours before check-in, while a moderate policy offers no-fee cancellations until five days prior to arrival.

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Payment Timing and Reminders

Regardless of the cancellation window, guests are obligated to complete the full payment before the expiration of the free cancellation period. Airbnb ensures a smooth experience by sending timely payment reminders to avoid any last-minute issues.

Evolution of Airbnb’s Payment Solutions

This initiative builds on Airbnb’s previous forays into flexible payment structures. In 2018, the company offered a partial upfront payment model, and more recently, a collaboration with Klarna enabled guests to pay in four installments over six weeks. Such strategic advancements demonstrate Airbnb’s commitment to adapting and refining its payment solutions to meet evolving consumer demands.

Consumer Insight Driving Innovation

Airbnb’s decision to launch the “Reserve Now, Pay Later” feature reflects robust consumer demand, with recent surveys indicating that 55% of respondents prefer flexible payment options. Additionally, 42% noted missed opportunities due to payment complexities when coordinating with travel companions, underlining the need for simplified financial arrangements.

Conclusion

By enhancing payment flexibility, Airbnb not only broadens its appeal but also addresses critical customer pain points, reinforcing its position as a leader in the evolving travel market. This initiative exemplifies how strategic innovation can drive customer satisfaction in an increasingly competitive landscape.