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Final days before Christmas have Kiwis spending up a storm

December 24, 2013

Final days before Christmas have Kiwis spending up a storm

Figures released today by leading payments provider Paymark, show shoppers are rushing to get their final gifts under the tree. The peak transaction rate for the year of 148 per second was recorded at 12:24pm today; this compares with 132 transactions per second in 2012, and is the highest transaction rate ever.

Paymark, which processes about 75 per cent of all electronic transactions in New Zealand, also saw spending up 7.1 per cent annually for the 22nd and 23rd of December.

Paul Whiston, Paymark Head of Sales and Marketing, says the final days of spending before Christmas have continued the positive month of growth so far.

“Yesterday was recorded as the second highest spending day ever, with $235 million through the tills, and was also 42.8 per cent up on the previous Monday,” he says.

“December 23rd was also a particularly strong day for a number of sectors including sporting and camping equipment outlets, up 109.9 per cent compared to the same day last week, and clothing and jewellery stores, up 78.6 per cent week-on-week.

“Kiwis were also out gathering all the last minute essentials for their Christmas lunch, with food retailing up 81.8 per cent yesterday on the same day last week,” adds Whiston.

PAYMARK Regional Data 22-23rd December 2013 versus 2012

RegionValue of spending ($millions) Last YearValue of spending ($millions) Current YearValue Difference
Auckland/Northland$143.8$153.46.7%
Waikato$28.0$30.07.0%
BOP$25.0$26.86.9%
Gisborne$3.6$3.62.2%
Taranaki$8.8$9.57.1%
Hawke’s Bay$11.1$11.54.3%
Wanganui$3.7$3.82.5%
Palmerston North$11.0$11.87.5%
Wairarapa$3.7$3.95.6%
Wellington$35.8$35.90.3%
Nelson$7.5$8.311.4%
Marlborough$4.6$5.111.3%
West Coast$2.8$3.07.3%
Canterbury$42.5$44.95.6%
South Canterbury$6.4$7.09.0%
Otago$19.9$21.05.3%
Southland$9.1$9.87.3%
New Zealand$367.5$393.77.1%

About Paymark
In November 2009, Paymark honoured a significant business, retail, and economic milestone with the celebration of its 20th birthday. Since its inception in 1989 when three banks came together to form Electronic Transaction Services Limited (now known as Paymark Limited), Paymark has grown to become an integral part of New Zealand’s economic landscape with arguably the best EFTPOS system in the world.

Quick facts:
• By March 1990 volumes through the network exceeded 1 million transactions a month
• 1994 the company increased its computer processing power to accommodate volumes exceeding 10 million transactions a month
• 28 August 1996, Paymark makes history by installing an off-shore EFTPOS terminal at a general store, Scott Base, Antarctica
• In 1998 Paymark passed another milestone as the 1 billionth EFTPOS transaction was processed
• In February 2012, Paymark processed its 10 billionth transaction
• More than 74,000 merchants and 116,000 terminals are currently connected to the network that is now 3DES and EMV compliant. Today, the Paymark network processes over 75% of all electronic transactions in the New Zealand retail market on behalf of more than 50 card issuers and acquirers.

ENDS

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