Paymark study highlights positive end of 2017 for NZ retailers

By Addie Thomes

New Zealand payment specialist Paymark has released figures for spending through its platform over the final quarter of 2017.

In December, NZ$5.94bn was transacted through the platform, marked by strong growth early in the month, including 8.1% annual underlying growth through Paymark in the first seven days, continuing on from the spending surge of late November.

More moderate growth rates were recorded during the rest of the month, including 6.4% annual growth on Boxing Day. Peak spending for the month was again on the Friday before Christmas Day, up 2.7% on the 2016 peak.

RELATED STORIES:

One noticeable observation was a cooling off in spending growth in major centres such as Auckland, Wellington and Canterbury during December.

The highest spending growth was in Marlborough (18.6%), which includes Kaikoura in the Paymark statistics, and amongst other smaller regions such as West Coast (10.5%), Wairarapa (10.3%) and Gisborne (10.2%).

Total expenditure over 2017 through Paymark hit $60bn, which represents a 5.4% increase on 2016. Contactless payments rose by 11.5%, while the total number of transactions came in at 1.266bn.

The average transaction sizes were $47.39 in total, $64.59 for credit and contactless cards and $37.89 for debit cards.

Share

Featured Articles

Twitter timeline – how Musk pulled off a hostile takeover

Elon Musk strikes deal to buy Twitter for US$44bn following four months of cryptic tweets, secret meetings and buying of shares – here’s the timeline

Top 10 Asia restaurants, from Tokyo’s Den to Bangkok’s Sorn

From Tokyo to Bangkok, with cuisines spanning Cantonese, Thai and German, we highlight Asia’s top 10 places to eat, as per Asia’s 50 Best Restaurants

Microsoft: what Asia leaders need to know about hybrid work

Microsoft’s 2022 Work Trend Index guides Asia leaders to navigating a hybrid future – from making the office worth the commute to rebuilding social capital

Meet the company: EV Nio to list in Hong Kong, enter Europe

Leadership & Strategy

12 Tech trends to watch closely in 2022, from CB Insights

Technology

Why Deloitte Australia’s HR technology is winning awards

Human Capital