New record amid last-minute Xmas shopping surge

A surge in last-minute Christmas shopping has resulted in a new record for the most transactions per second that Paymark has processed.

Final sales figures for the day are yet to be collated, but Paymark – which processes most of New Zealand’s Eftpos payments – reported that, as of 2pm, Kiwi consumers had already spent more than $166 million.

The busiest time of day has likely 12.30pm when a peak of 204 transactions per second were processed.

The previous record was 188 transactions a second. The daily average is usually around 60 transactions per second.

“Christmas Eve always gives the network a good workout and we work hard to ensure the retail network is fully operational,” Paymark chief executive Maxine Elliott said.

As at 2pm, about 3 million transactions had been processed through thenetwork since midnight.

“The Paymark team is extremely aware of the importance of the Christmas season for retailers, particularly given the issues of 2020,” Elliott said.

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