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Cape Verdeans spent over 1.5 billion escudos in week before Christmas 24 Dezembro 2014

Cape Verdeans spent more than 1,500,000,000 escudos in the week leading up to Christmas. More than 900 million escudos were withdrawn from automatic teller machines alone, while 670 million escudos were spent with debit cards using electronic payment terminals at retail establishments across the country.

Cape Verdeans spent over 1.5 billion escudos in week before Christmas

The figures come from the Interbank Payment System Corporation (known by the acronym SISP, in Portuguese). Monday, December 22, was the best month in December in terms of electronic payment and withdrawal transactions, with electronic payment terminals registering 145 million escudos in purchases and ATMs showing 200 million escudos in cash withdrawals.

SISP’s Antão Chantre explains that the figures represent a slight increase in comparison to the same period last year. “We’re seeing growth of 7% against 2013 in terms of withdrawals. In terms of purchases, this growth stands at 20%,” the official told Cape Verdean National Radio RCV.

Since the beginning of December, more than 4.4 billion escudos have been transacted – 2.35 billion in withdrawals and 1.84 billion in purchases. In SISP+s analysis, this increase in transaction value is due tot he expansion of SISP’s services and increased trust on the part of consumers.

“Cape Verdeans are increasingly opting to use debit cards. We’ve seen a 5% increase in the number of users, with more than 7,000 new cards issued. More and more we are seeing Cape Verdeans using debit cards to make payments, and there’s a tendency to buy gifts and other products with cards.”

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