Payment methods in Cyprus

Generic online and mobile bank-transfer methods (internet banking, e-banking, EFT and interbank transfers). Customers pay directly from their bank account via their bank's own online/mobile banking portal. Implementation and rails differ by country, but the consumer flow is a standard account-to-account bank transfer.

Mastercard is a leading global card network supporting credit, debit and prepaid card payments online, in-store and at ATMs worldwide. In the listed countries it is a core internationally accepted scheme.

Visa is the world's largest card network, enabling credit, debit and prepaid card payments online, in-store and at ATMs across virtually every market. In the listed countries Visa is a core internationally accepted scheme alongside local methods.

Pan-European mobile payments app connecting phone numbers for instant consumer-to-merchant and P2P payments, active in the Balkans. Operator: Settle Group (formerly Auka). Est. users: Cross-border across 28 EU markets (2024).

Digital wallets represent the second-largest payment category at ~$737M. PayPal is widely used for cross-border shopping, while Apple Pay and Google Pay have grown strongly with smartphone commerce reaching 25% of card transactions.

The single most-used payment method, with approximately 45-47% of e-commerce orders still settling in cash at delivery. Consumer distrust of online payments remains the primary driver. Most major Serbian logistics providers (Post of Serbia, DExpress, etc.) offer COD collection.