Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Paymark launches inaugural Year in Review – Payment Trends

Paymark launches inaugural Year in Review – Payment Trends

Auckland, 29 January, 2019



The rise of e-Commerce, the cashless society, whether contactless cards are changing behavior and which region has performed the best in terms of spend. These issues, and many others, are addressed in the inaugural Paymark Payments Review, a report which looks back at 2018 and the payments industry and what this could mean for Kiwi business in 2019.

Paymark CEO Liam O’Reilly says the report brings together the data and insights Paymark has gathered throughout the year as well as looking at international trends and provides an opportunity to deliver a report card on the retail sector’s results.

“With more than 100,000 EFTPOS machines throughout every town and city in the country, we get a unique insight into the retail sector’s actions and the consumers’ responses to them. This year we’ve seen the rise of e-Commerce and online shopping but also counter to that, the continued growth of cash in the economy. With this report we hope to shed some light on the journey for our retail partners.”

The report breaks down the year’s results by region but also by shopping category and looks at the changes that have taken place over the past 12 months.

“One major change was the dramatic growth in terms of retail activity around Black Friday and Cyber Monday. What had been a minor but interesting US-based shopping event took on a life of its own and has dramatically reshaped the busiest shopping season for retailers in New Zealand,” says O’Reilly.

Paymark manages New Zealand’s largest EFTPOS network with over 75% of the country’s terminals connected to the Paymark switch, something which can serve as a proxy for how the economy as a whole is developing.

“Because New Zealanders embraced EFTPOS so fully and because we are spread across so many centres and so many different shopping categories, our data paints a picture of the retail sector unlike any other.”

The full report includes a look ahead at what we can expect to see next year, and can be downloaded from: http://www2.paymark.co.nz/year-in-review-whitepaper

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds

The Monetary Policy Committee (MPC) has decided to implement a Large Scale Asset Purchase programme (LSAP) of New Zealand government bonds. The negative economic implications of the coronavirus outbreak have continued to intensify. The Committee ... More>>

ALSO:

Elevate NZ: Venture Fund To Lift Productivity

The Government’s new $300 million venture capital fund - announced in last year’s Budget – is now open for business as the Elevate NZ Venture Fund. Finance Minister Grant Robertson says lifting New Zealand's productivity requires well-functioning ... More>>

ALSO:


COVID-19: Case Confirmed In NZ – Expert Reaction

After spreading across the globe for months, the first case of COVID-19 has been reported in New Zealand. The Ministry of Health says the risk of a community outbreak is low, due to their preparedness and the high awareness of the disease. The Science ... More>>

ALSO:

Agriculture: New Legislation To Boost Organics

New organics legislation will boost consumer confidence and help grow an innovative sector, says Food Safety Minister Damien O’Connor. “The Organics Product Bill, introduced to Parliament this week, aims to increase consumer confidence when purchasing ... More>>

ALSO:

Biodiversity Policy: Misinformation Circulating

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>

ALSO: