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Kiwis spend up

credit card, spending, chip, paymentKiwis spent a total of $5.3 billion dollars through the Paymark network in December 2014, up $300 million on December 2013 when $5 billion was recorded.

Spending on New Year’s Eve was higher than spending on Boxing Day with around $172 million processed via the Paymark network. This was up by $12.2 million on New Year’s Eve 2013, with spending totalling $160 million.

The total number of transactions via the Paymark network on New Year’s Eve 2014 was 3.7 million; an increase of 197,878 on New Year’s Eve 2013.

Paymark achieved a significant milestone in December 2014, hitting its 13 billionth transaction. The transaction was recorded on December 272014 in Taupo.

Its 12 billionth transaction was recorded on January 312014, only 11 months prior. Achieving this milestone in less than 11 months reflects the 300 per cent growth in contactless transactions through the Paymark network over the past year.

Paymark will release a full overview of December 2014 spending on January 8.

 

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