Cyprus Sees Surge In ATM Withdrawal Value Amid Digital Payment Expansion

by THEFUTURE.TEAM

February 27, 2026

ATM Withdrawal Trends

Data from the Central Bank of Cyprus show that cash withdrawals from the country’s 405 ATMs totaled €2.5 billion in the first half of 2025. Although the number of transactions declined compared with the same period in 2024, the average withdrawal increased 28% from €291 to €372, keeping the overall value of cash dispensed relatively stable.

Rapid Digital Payment Adoption

Cash usage continues to decline as digital payments expand. Cyprus remains one of the most advanced markets in the euro area for contactless infrastructure, with more than 70% of ATMs supporting contactless cards, compared with around 34% across the eurozone. Payment card circulation increased 7% year over year to approximately 2 million cards, equivalent to about two cards per resident, reflecting continued growth in electronic payment adoption.

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Consumer Spending Patterns And Card Dominance

Card payments now represent around 75% of transaction volume in Cyprus, placing the country among the most card-intensive markets in the euro area. Cyprus ranks second in payment card usage frequency, behind Portugal.

Debit cards remain the dominant payment method, with consumers significantly more likely to hold debit cards than credit or post-charge alternatives. VISA and Mastercard continue to account for the majority of issued cards. Average in-store card transactions stand at €37, slightly above the euro area average of about €33.

Online Spending Trends

Online transactions show higher average values than physical purchases. The average online payment in Cyprus reached €125, compared with roughly €60 across the euro area.

The data suggest that while cash withdrawals remain substantial, consumer behavior is increasingly shifting toward digital payments, particularly for higher-value online purchases.

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Cyprus Expected Working Life Reaches 39.5 Years, Above EU Average

by THEFUTURE.TEAM

July 20, 2026

People in Cyprus are expected to spend 39.5 years in the workforce, around two years longer than the European Union average of 37.5 years, according to the latest Eurostat data for 2025.

The figure places Cyprus among the EU countries with the longest expected working lives.

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Cyprus Ranks Above EU Average

Only a handful of member states recorded higher figures than Cyprus. The Netherlands topped the ranking at 44 years, followed by Sweden at 43.4 years, Denmark at 42.6 years, and Estonia at 41.5 years.

At the other end of the ranking were Romania with 32.7 years, Italy with 33.0 years, Bulgaria with 34.6 years and Greece with 35.3 years.

Gender Gap Remains Wider Than EU Average

Men in Cyprus are expected to remain in work for 42.1 years, compared with 36.7 years for women. The gap of 5.4 years exceeds the EU average gender gap of 4.1 years.

Across the bloc, Lithuania, Latvia and Estonia were the only countries where women were expected to spend longer in employment than men. Finland recorded the smallest positive gender gap at 0.7 years.

Italy posted the widest gap at 8.9 years, followed by Romania at 6.9 years, Greece at 6.7 years and Malta at 6.3 years.

Working Lives Continue To Lengthen

Between 2016 and 2025, expected working life in Cyprus increased by 3.5 years, placing the country among the strongest performers in the EU over the period. Men’s expected working life rose by 3.3 years, while women’s increased by 3.6 years.

Across the EU, every member state recorded an increase. Malta posted the largest gain at 4.9 years, followed by Hungary and Ireland at 4.2 years each, and the Netherlands at 4.1 years.

Malta’s increase was driven largely by women, whose expected working life rose by 7.8 years, the biggest increase recorded across the bloc.

By comparison, Romania, Spain, Italy, Germany and Austria recorded gains of two years or less over the same period.

Women’s Working Lives Increase Faster Across Europe

Women’s expected working life increased faster than men’s in most EU countries. Denmark, Romania, Sweden and Greece were the main exceptions.

In Cyprus, gains for men and women were broadly similar, alongside Bulgaria, Belgium and Slovenia.

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