Cyprus

CY · CYP · 196EuropeEUR €23 methods

Revised · 4 sources

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E-commerce market estimated at ~$0.94B in 2024, growing at 9.33% CAGR toward $2.5B by 2035

$940 m

e-commerce spend · 2024e

~1.1M

online population

~7%

of total retail

~90%

banked adults

~70%

credit card population

Mix Methods Behaviour Banks Sources Facts

Payment mix

share of e-commerce spend · 2024e

CategoryLeading methodShare

CardVisa55%
E-WalletGoogle Pay30%
Bank TransferSEPA Direct Debit8%
Cash on Delivery—5%
Other—2%

Methods in use

top 8 of 23 · by spend

MethodTypeShare

All 23 methods in Cyprus →

Checkout behaviour

Credit cards ($993M) and digital wallets ($737M) are the two leading payment method categories

25% of card purchases already originate from mobile phones, reflecting strong smartphone commerce

~7%

e-commerce of retail

Facts

ISO 3166: CY · CYP · 196
Region: Europe
Population: 1.3M
Currency: EUR €
Internet use: ~85%
Banked adults: ~90%
Methods live: 23
Banks covered: 13

Largest banks

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United Kingdom Croatia El Salvador Jamaica

Sources

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