E-payments up by record 20 percent. Rising interest rates on loans makes cards a form of lending

Electronic payments registered record growth of a 20 percent in 2018, compared to the previous year, according to Visa.

Part of this growth is attributed to the increase in the number of payment cards in circulation, which registered a six percent growth last year, compared to the preceding year, according to the Central Bank. More residents and non-residents are using payment cards at local terminals.

The growth in payment cards is attributed to the banks' targeted efforts to rea...

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