Bank card transactions abroad drop 20%, UBRD says

14 April 2015 (09:39)

April 14, 2015. The number of credit/debit card transactions made abroad decreased by 20% in the first quarter of 2015 against a year earlier, the Ural Bank for Reconstruction & Development’s press service says.

According to the bank experts, 76,500 transactions were performed in January-March compared with nearly 96,000 a year earlier. UBRD customers usually use their bank cards abroad to pay for their purchases (65,000 transactions) and, less frequently, to take out some cash (5,000 transactions).

‘A drop in the number of foreign transactions was to be expected: tour operators said as early as last year that tourist traffic would decline, and their forecasts proved accurate. Both private travelers and business managers are trying to cut down on foreign travel expenses,’ says UBRD Bank Card Director Alexei Piskunov.

The better part of transactions was made in Great Britain (37.4%) and Luxembourg (18.5%): these countries have actually remained the most popular ones with UBRD cardholders for several years now. The Czech Republic (4.2%) and the United States (4.1%) also prove popular destinations.

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