Changes in Cypriot Consumer Behavior: A Shift Towards Digital Payments
October 19, 2026
Cyprus is rapidly shifting to a digital economy, with electronic money gaining ground over cash. Data shows a reduction in physical bank branches and ATMs, with their numbers dropping to a historic low. Conversely, the use of payment cards is skyrocketing, exceeding 2.2 million cards in circulation. Cards account for 75% of transaction volume, but electronic transfers dominate in value. This change highlights a significant shift in the consumer behavior of Cypriots.