HUNDREDS of transactions were recorded per second as shoppers across South Africa spent billions on Black Friday.
Sky-high statistics were recorded by FNB. The bank said spending has increased by 19% with transactions worth more than R2 billion processed on its speedpoints. Furthermore, FNB card holders made purchases in excess of R2.5 billion on Black Friday, an increase of 15% compared to 2020.
FNB CEO, Jacques Celliers said more shopping activity is expected during Cyber Monday.
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“Our stats also show heightened shopping activity beyond Black Friday, with transactions for the month of November up 25% compared to the same month in 2020. It’s exciting to see consumers and businesses actively taking part in economic activity despite the challenges posed by the Covid-19 pandemic,” said Celliers.
CEO of FNB merchant services, Thokozani Dlamini said hundreds of transactions were recorded per second.
“During this year’s Black Friday, we recorded a peak of 490 transactions per second, an improvement compared to 2020 but on par with volumes processed in 2019. In the last three years, Black Friday has been the biggest shopping day of the year in South Africa, and we expect this trend to continue considering the effort that retailers continue to make to attract willing buyers,” he said.
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CEO of FNB Card, Chris Labuschagne said these high spending volumes indicate economic recovery is underway.
“The recovery in spending is a sign that households are gradually finding their feet in what has been a difficult 18 months due to Covid-19 and the lockdown. We’re also delighted to see many of our customers using our wide range of convenient and safer payment alternatives, such as Virtual Cards and Apple Pay. While Black Friday is usually the peak shopping period, Cyber Monday has been equally popular in recent years. As a result, we expect to see customers taking advantage of any specials on tech or digital products,” added Labuschagne.
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