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Payment gateway in Cyprus

A bad payment experience is one of the main reasons for not buying online. How can I avoid common mistakes and make the payment process as comfortable as possible? The material contains practical recommendations for setting up a payment system on the site: from choosing payment methods to testing the user path.

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How e-commerce works in Cyprus

According to experts’ forecasts, in 2025, the e-commerce market in Cyprus will reach $1.07 billion. Over the next five years, the market is expected to grow by an average of 14.43% per year, reaching $2.11 billion by 2030. The main reasons for this growth are:

Internet penetration rate – 92%;
Interest in cross-border trade – 81%;
Active use of smartphones for shopping – 65%.
Logistics improvements – automated parcel collection points, partner delivery programmes and express delivery services within 24 hours are being used.
Government funding for digital transformation – in 2026, the government will allocate €172,8 million to support innovative projects.
Cashless payment methods in Cyprus account for 80-90% of the total market.

E-commerce in Cyprus has significant potential thanks to the high level of digitalisation among the population and active government support. The market continues to grow rapidly, attracting new players and investments.

Companies interested in developing their presence in the Cypriot market should take into account local characteristics such as the popularity of mobile platforms, the importance of cross-border trade, and the need to implement modern payment solutions.

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What is a payment system?

Do you know what all your online purchases, transfers to friends, and subscriptions to your favourite services have in common? That’s right — a payment system. It is an invisible but extremely important infrastructure that allows money to flow smoothly from the buyer to the seller. Simply put, a payment system is the mechanism that allows us to carry out any financial transactions quickly, conveniently, and reliably.

Modern payment systems cover a wide range of tools and technologies. They include familiar bank cards, advanced digital wallets, innovative crypto services and traditional bank transfers. Thanks to this diversity, everyone can choose the right payment method, whether it’s a quick purchase from an online store or a secure transfer to relatives.

Here are the main payment system options used by millions of people every day:

Bank cards. A classic and reliable payment method. Everyone is familiar with Visa and Mastercard, and local players offer interesting bonuses and cashback.
Direct debit. Automated debits from a bank account. Ideal for regular payments such as rent or streaming service subscriptions.
Digital wallets. Apps like Google Pay, Apple Pay, and Samsung Pay simplify payment with a single tap of your smartphone.
Cryptocurrencies. A new generation of financial solutions. Bitcoin, Ethereum and other coins are becoming a popular payment method among progressive users.

These systems ensure the security of your finances, protect your personal data and guarantee the timely execution of transactions. A reliable payment system is the key to customer trust and stable business development.

WE OFFER

Instant transfers

Send and receive money quickly and securely anytime

Low fees

Save on transactions with our transparent and competitive rates

Business Integration

Easily connect BillBlend to your accounting and CRM systems to automate processes

24/7 Support

Our team of experts are always available to help you at any time of the day or night

Security First

We utilize advanced encryption technology to protect your data

Global capabilities

Support for multi-currency transactions and international transfers

Join BillBlend and discover a new level of convenience and reliability in managing your finances!

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Partner payment systems

What is a payment gateway and how does it work?

A payment gateway is the technological heart of any electronic cash register. It is what quietly processes your orders when you shop online. Want to know how it works? Let’s take a closer look:

Selecting a product and placing an order. You find the product you want, add it to your virtual shopping cart and confirm your purchase.
Data transfer. Your browser sends the order information to the payment gateway server.
Data encryption. The system instantly encrypts confidential information (card number, expiry date, CVV code) to ensure maximum protection.
Issuing bank verification. A request is sent to the bank that issued your card to confirm that you have sufficient funds.
Transaction approval or rejection. The bank makes a decision and notifies the gateway of the result.
Completion of the transaction. If the payment is successful, the funds are reserved and prepared for transfer to the seller.

This entire complex process takes literally seconds and remains invisible to the user. But it is thanks to such technologies that your favourite pair of shoes arrives at your door on time and your favourite TV series continues to delight you with new episodes.

Choosing a high-quality payment gateway in Cyprus guarantees your business smooth operation, satisfied customers and minimal risk of fraud.

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What is a payment gateway and how does it work?

Cyprus is an island of contrasts, combining ancient traditions and modern technology. When it comes to payment methods, locals and tourists choose the most convenient and reliable options. Let’s take a closer look at which payment systems are the most popular in Cyprus in 2025.

International payment systems

There is a high demand for international payment solutions in the country. Visa is the most common card in Cyprus. It is accepted almost everywhere, from small cafes to large supermarkets.

Advantages

Wide coverage of retail outlets.
High level of personal data protection.
Additional insurance and tax refund options.

Disadvantages

Higher fees for cross-border transactions are possible.
An international card is required for use outside the region of issue.

MasterCard is the second most popular international player, firmly established in the Cypriot market.

Advantages

Excellent compatibility with mobile devices and applications.
Special promotions and discounts for cardholders.
High reliability and security of transactions.

Disadvantages:

Restrictions in certain countries and regions.
An international card is required for full use.

UnionPay is a Chinese payment system that has not yet gained significant popularity in Cyprus.

Advantages

Popular among Chinese tourists and business people.
Easy to use and highly reliable.

Disadvantages

Very limited coverage of retail outlets and ATMs.
Sellers are not very knowledgeable about the system’s capabilities.

Electronic payment systems

Skrill is a convenient e-wallet for fast international transfers.

Advantages

Minimal commission for international transactions.
Fast processing of transactions.
Can be integrated with other payment instruments.

Disadvantages

Few shops accept Skrill. There is a risk of temporary account blocking for violations of the terms of use.

Neteller is a service that is popular among gamblers and traders.

Advantages:

Fast withdrawal and replenishment of funds.
Compatibility with most online casinos and exchange platforms.
Numerous ways to deposit and withdraw money.

Disadvantages:

Increased risk of unauthorised access to your account.
Limited use in regular retail trade.

PayPal is a universal solution for online shopping and international transfers.

Advantages:

Easy registration and account management process.
Reliable protection of personal information and funds.
Possibility of refunds in case of disputes.

Disadvantages:

Periodic difficulties with profile verification.
Additional confirmation may be required for large purchases.

Local bank cards

Local providers also operate in the country. Bank cards in Cyprus are issued by leading local banks and are widely used among permanent residents.

Advantages:

Free service and minimal transaction fees.
Extensive network of ATMs and cash registers.
Bonus programmes and partner discounts.

Disadvantages:

Difficulties in opening accounts for non-residents and visitors.
Mandatory account opening at one of the national banks.

Alternative methods

There are also alternative solutions that businesses can integrate to increase their attractiveness to customers.

Although not officially recognised by the state, cryptocurrencies are actively used by part of the population, especially for investment purposes and large transactions.

Advantages:

Independence from state institutions and centralised authority.
Potential for significant investment income.
Open and transparent transaction structure.

Disadvantages:

Significant price volatility and risks.
Lack of adequate legal regulation.
Difficulties in integrating into standard economic schemes.

Revolut is a modern multi-currency digital wallet, ideal for young professionals and travellers.

Advantages:

Low currency exchange fees.
Simple interface and intuitive mobile app.
Innovative personal finance management.

Disadvantages:

Limited free transfer limits.
Possible difficulties with technical support in force majeure circumstances.

Each of the methods listed has unique characteristics and is suitable for a specific category of users.

Why choosing a reliable payment gateway is important for business

The payment system stores customer data and their funds, but in order for a buyer to make a purchase in a store, top up their account at a bookmaker’s office or perform another operation, a payment gateway is required. It is a kind of bridge between the buyer, the seller and the system where the funds are stored. Without a gateway, there will be no data exchange and, accordingly, the purchase transaction will not go through.

Here’s why a good payment gateway is important for business:

Businesses can get all of this by choosing Billblend as their provider.

Reviews

BillBlend made setting up payments for our online casino easy compared to what we experienced before. Their support was so obvious, and a secure gateway made transactions seamless. The team’s attention to detail and commitment to compliance really stood out. Thank you, guys.

Great service! BillBlend’s team was super helpful in integrating our payment gateway. Secure, reliable, and perfect for high-risk transactions. The ongoing support and robust fraud protection have been invaluable to our operations. A solid choice for us, for sure.

BillBlend’s gateway integration was so smooth that we did not actually expect that. Their support and secure solutions made managing payments for our betting site stress-free finally. Plus, their analytics tools have given us insights to optimise our customer experience.

Thanks for handling our payment setup for online gaming flawlessly, now we have zero issues with the transactions. Your gateway is secure and easy to use. Excellent service, a highly efficient team, as I see. The real-time fraud detection and quick integration helped us launch faster with confidence.

BillBlend made setting up our payment gateway for the dating platform incredibly smooth, I can’t believe we did that after years of struggling. Their team guided us through the entire process. Their ongoing support has been top-notch, allowing us to focus on growing our community. Now the security features and fraud prevention tools give us peace of mind. Highly recommend BillBlend to any online dating business looking for a reliable payment solution partner!

BillBlend was instrumental in setting up our payment processing for our betting platform, even with our deadlines coming so tight. Their team understood the unique challenges of the betting industry and provided a secure, compliant gateway that fits our needs so well. The integration was seamless. Thanks to that, we've been able to enhance our user experience and streamline operations.

Billblend – the best payment gateway for businesses in Cyprus

Among Cypriot payment processor, Billblend stands out as a payment processing system that is ideal for businesses on the island, including high-risk industries.

Multiple ways to accept payments worldwide

Simplify transactions for your customers and watch your sales grow. Billblend offers over 100 payment methods optimised for the European market and Cyprus in particular: from Visa and MasterCard bank cards to e-wallets such as PayPal, Skrill and Neteller, as well as innovative solutions including QR payments and cryptocurrency transactions.

Accept online payments with instant integration

The ideal solution for increasing your business’s conversion rate. The fully integrated system solves any payment-related tasks. Simple API integration on any platform allows you to process large volumes of transactions. You can track the status of each transaction in real time from a single convenient control panel.

Fast payments for businesses

Speed up refunds, employee payroll, and payments to partners or customers. Make thousands of instant payments to different accounts in a single day. This is especially relevant for Cypriot businesses that often interact with international counterparties.

Customise your payment method

Create convenient payment pages tailored to your design. Change the appearance of pages to match your brand’s corporate identity. Provide users with a dynamic choice of payment methods without the need for in-depth technical knowledge. This is important for building a positive image for your company in the competitive Cypriot market.

Combining global and local payment methods

Billblend is able to combine all popular European and Cypriot payment methods through a single integration, providing maximum flexibility and convenience for companies. It is suitable for both traditional retailers and high-tech start-ups operating internationally.

Billblend is not just a Cyprus payment gateway, it is a powerful tool for growing your business.

Сreate a customized solution for the specifics of your business

Angelina, Key Account Manager

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Conclusion

Choosing the right payment gateway is the key to a successful online business. Don’t skimp on this important piece of infrastructure. Invest in quality, and your customers will reward you with regular purchases.

Remember: payment convenience is not just a detail, but the foundation of your online store. Bet on the best solutions, and success will not be long in coming!

Additional information

Betting payment gateway

In today’s digital age, payment gateways have become essential for businesses and consumers alike.

Gambling payment gateway

Enjoy seamless transactions with BillBlend, your premier choice for a payment gateway solution for online gambling.

Casino payment gateway

Work with payment gateways that are considered safe in all local geographies you operate. Offer more payment options for customers.

Additional information

Cross border payment gateway

The world is becoming increasingly interconnected, and borders are no longer a barrier to business. Companies seeking to open new markets and expand their trade turnover face the need for fast and secure payment processing in different countries.

Alternative payment methods

The e-commerce industry is changing rapidly. New trends come and go, new audiences emerge, and customer expectations change. Given the changing trends and user preferences, businesses must respond to the changes and offer new solutions.

What is a digital wallet?

In our rapidly evolving digital world, managing finances has never been easier, thanks to digital wallets. New tools simplify transactions and increase security for your payments. In this blog post, we’ll explore what a digital wallet is, how it works, and its benefits

Frequently asked questions

What types of cards do most Cypriot stores accept?

Visa and Mastercard remain the most popular, but American Express and Maestro are growing in share.

Is it possible to integrate cryptocurrency payments?

Yes, many modern gateways support Bitcoin, Ethereum, and other cryptocurrencies.

How long does it take to connect a new gateway?

From a few hours to a couple of weeks, depending on the complexity of the settings.

Do I need to undergo additional verification to accept payments?

Yes, banks and payment systems require confirmation of the business owner’s identity.

What are the penalties for violating payment processing rules?

Penalties range from €500 to €50,000, depending on the severity of the violation.