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Christmas Electronic Transaction Report

PAYMARK EFTPOS
Christmas Electronic Transaction Report

27 December 2006

Boxing Day Sales Provide Boost For Retailers Electronic and online transaction statistics

Boxing Day is well and truly a part of New Zealand retail culture, according to electronic transaction network provider Paymark.

Only a day after the final rush of pre-Christmas shopping New Zealanders returned to the malls to take advantage of the now-traditional Boxing Day sales. Transaction volumes were up 12 percent on the same day in 2005, with over 1.2 million transactions worth $68 million. Transaction volumes reached a peak of 54 transactions per second - a long way off the 99.5 per second seen in the lead up to Christmas.

Simon Tong, Chief Executive Officer, Paymark, said retailers should be happy with the volume of transactions taking place over the festive season.

“Trading on Boxing Day did not reach the peaks we saw during the Thursday to Saturday prior to Christmas. However, electronic transactions on Boxing Day were ahead of the average increase for the month of December, which has been around seven percent, showing it was a strong day for retailers.

“Overall electronic transaction volumes are up on last year and at all time record highs in terms of transactions per second, hour and day. People are relying on debit and credit cards and online purchases more and more.”

The Paymark network accounts for around 80 percent of all electronic transactions (debit, credit, online) in New Zealand.

ENDS

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