Top payment methods in Cyprus: A guide on best ways to pay
Wondering what the most popular ways to pay are in Cyprus? Explore the top payment options and choose wisely.
Cyprus, with a population of around 942 thousand people, has a GDP of approximately 360.24 billion making it the 41st largest economy in the world. The official currency of Cyprus is the Euro (EUR)
The economy is driven by services, including tourism, financial services, and shipping. As a member of the European Union and the Eurozone, its economy is closely linked with the rest of Europe.
| Country | Cyprus |
|---|---|
| Population | 942 thousand |
| GDP (USD) | 360.24 billion |
| Global Ranking | 41st |
| Currency | Euro (EUR) |
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What is the main payment method in Cyprus?
With high banking penetration, credit and debit cards are the leading payment method in Cyprus for both online and offline transactions. Physical cash in Euros is still frequently used for smaller, everyday purchases and in more traditional establishments. For bill payments and formal business-to-business transactions, SEPA (Single Euro Payments Area) bank transfers are the common standard.
How to pay in Cyprus
Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Cyprus.
| Payment Method | Description | Type |
|---|---|---|
| Wise | Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies. | Online/In-person |
| Cards (Visa, Mastercard) | As a modern Eurozone economy, debit and credit cards are the leading and most widely accepted payment method for both retail and online transactions. | Online/In-person |
| Cash (Euro) | Cash is a very common and popular payment method for daily expenses, particularly at smaller establishments and markets. | In-person |
| SEPA Bank Transfers | Direct bank transfers via the SEPA (Single Euro Payments Area) system are a standard and secure way to make payments, especially for bills and larger transactions. | Online |
| Digital Wallets (Apple Pay, Google Pay) | Mobile payment solutions like Apple Pay and Google Pay are available and linked to users' cards, offering a convenient way to pay. | Online/In-person |
Traveling beyond Cyprus? Explore payment methods by country.
Is PayPal available in Cyprus?
Yes, PayPal is accepted in Cyprus.
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Whatever you need to buy during your trip, whether it’s a travel adapter, train ticket or an extra bottle of sunscreen, the Wise Multi-Currency Card has you covered.
You can spend like a local in 150+ countries, as this clever contactless card automatically converts currency at the mid-market exchange rate whenever you spend - for just a small conversion fee.
And for extra convenience, you can add your Wise Multi-Currency Card to your Google Wallet or Apple Wallet. Then you can travel even lighter and pay using just your phone, with no need to pack the physical card.
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This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.