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Tuesday, June 28, 2022

Cashback service in Cyprus becoming more and more popular

Cypriot consumers seem to be embracing the fledgling cashback service where a customer pays by debit card and asks for a further amount to be charged – up to a maximum of €100. The added amount then is handed over in cash and no fee is charged.

The trend is becoming more and more popular particularly in bakeries, kiosks, petrol stations and supermarkets all across Cyprus, Philenews reported on Friday.

Card service provider JCC data shows that about 15,000 cashback transactions took place in many of the island’s stores at a total value of €900,000 between January 1 and end of May.

The service has been in place for many years in the US, UK and other countries and allows consumers to save time by not having to make a trip to an ATM.

Regarding the total number of stores providing the service through JCC terminals, data up to Wednesday, June 22, has it standing at 215.

And stores by district are situated as follows: Nicosia 58, Limassol 69, Larnaca 37, Famagusta 14, Paphos 37.

The main categories of stores that have opted for this service through the JCC provider are gas stations, supermarkets, kiosks and bakeries.

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