Cyprus sees largest drop in cash use across the euro area

Cypriots are increasingly favouring digital payment methods, with card transactions now accounting for 75 per cent of total payment volume, the second-highest share in the eurozone after Portugal, according to data released on Monday by the Central Bank of Cyprus (CBC).

Despite the shift, cash and cheques continue to play a role in the domestic payments landscape, even as their use has declined steadily in recent years.

“Cypriots are turning to digital transactions, while at...