Payment Methods in Cyprus: How to Send Money Abroad with PandaRemit

Introduction

Cyprus offers a modern and flexible payment ecosystem, combining traditional and digital solutions for residents and businesses. Understanding payment methods in Cyprus is crucial for managing domestic transactions efficiently.

For sending money abroad, PandaRemit provides a fast, secure, and cost-effective solution for international transfers from Cyprus.

Why Payment Methods Matter in Cyprus

Reliable payment methods ensure smooth daily transactions, e-commerce operations, and international remittances. While credit and debit cards, as well as mobile wallets, are popular, cash is still widely used for small purchases. Using PandaRemit enables Cyprus residents to send money abroad quickly, safely, and with lower fees than traditional banks.

Country Stats

• Population: ~1.2 million

• GDP (USD): $27.5 billion

• Currency: Euro (EUR)

Country Overview Table

Main Local Payment Methods in Cyprus

1. Cash

Cash is still commonly used for small purchases, local shops, and informal transactions.

2. Credit and Debit Cards

Visa and Mastercard are widely accepted. Contactless payments are increasingly popular in shops, restaurants, and service providers.

3. Mobile Wallets and Digital Banking

Bank apps and international wallets like Revolut, Apple Pay, and Google Pay are frequently used for online and in-person payments.

4. Bank Transfers

SEPA transfers are common for rent, bills, and recurring payments, offering security but slower processing for international transfers.

International Transfers from Cyprus

For international money transfers, speed and cost-efficiency are critical. Bank transfers may involve high fees and slow processing.

PandaRemit provides:

• Low fees, cheaper than traditional banks

• Fast delivery, often within hours

• Secure transfers, ensuring peace of mind

PandaRemit simplifies sending money abroad from Cyprus, making cross-border payments easy and reliable.

How to Pay in Cyprus 

FAQ

1. Is PayPal available in Cyprus?
Yes, PayPal is available, but many locals prefer cards and mobile wallets for daily payments.

2. Are credit cards widely accepted?
Yes, credit and debit cards are accepted in most shops, restaurants, and online platforms.

3. Do people still use cash?
Cash is used for smaller purchases and in rural areas, while urban areas rely more on digital payments.

4. How can foreigners pay easily in Cyprus?
International cards, mobile wallets, and online banking apps provide convenient payment options.

5. How to send money internationally using PandaRemit from Cyprus?
Sign up on PandaRemit, choose the recipient country, enter recipient details, and complete the transfer securely using your preferred local payment method.

Conclusion

Cyprus offers diverse domestic payment options, including cash, cards, and mobile wallets. For international money transfers, PandaRemit is the go-to solution, providing fast, secure, and low-cost services for sending money from Cyprus worldwide.