Cypriots make card payments less frequently but for bigger sums, according to figures included in the European Central Bank report on “Card Payments in Europe – A Renewed focus on SEPA for Cards” issued on Tuesday.

In 2012, an average Cypriot made 48 card payments while the average European made 79 and the Eurozone average was 70.8. The biggest per capita number of transactions was registered in Sweden reaching 230, in Denmark 224 and in Finland 213. The smallest number of transactions were recorded in Bulgaria with 4 per year while in Greece and Romania seven transactions were recorded per year.

The report said that the total value of card payments per resident in 2012 reached €4,055, an amount which ranged in the same levels as the EU average and slightly over the Eurozone average of €3.613. The bigger card payments registered were in Luxembourg with 12,000 euro and smaller sums in Bulgaria, Romania and Greece under 500 euro.

According to the report, the per capita number of card payments continues to increase throughout the EU and marks a greater increase compared to other forms of payment including direct deposits, checks and electronic money.

It also said the use of card payments in most central and south-east Europe was extremely low, compared to northern European countries