Card use flat, more paying cash

Tuesday 11th August 2009

Electronic card transactions show patterns consistent with the economy emerging slowly from recession and reduced use of credit, according to monthly figures for July from Statistics New Zealand.

Total electronic card transactions were up 1.2% overall, up 0.8% in retail industries.

By industry group, non-retail and consumables led the increase; although durables and automotive fuel retailing industries were down slightly.

Card use was down 0.4% in June over May. The figures show a continuing drift away from credit cards to paying cash through debit cards.

Credit card use accounted for 45% of transactions in the year to July 2009, the 10th consecutive month to show a decrease in the annualised total.

Highest use of electronic cards for payments continued to be seen in payments for petrol, footwear and clothing, and food.

Businesswire.co.nz

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