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New Zealand spending on credit, debit cards rises 3.2% in November, Paymark says

Tuesday 6th December 2011

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New Zealanders increased spending on their debit and credit cards by 3.2 percent last month, according to Paymark, which processes three quarters of transactions.

Paymark handled 77 million transactions, worth $3.9 million in November, it said in a statement.

“Although annual growth has been slow, Christmas this year is still on track to be busier than last year and we are still planning for a very hectic last few days before Christmas Day, said Phil Deason, a Paymark spokesman.

The increase is slightly below the trend of recent months, not surprising given the double-digit levels experienced amongst cafes/restaurants during the rugby world cup, Deason said.

The biggest rise was in the dry cleaning and laundry sector, up 13 percent, followed by a 7 percent increase for appliance stores and a 5.7 percent gain for beauty and hairdressing.

Auckland/Northland was the fastest growing region in terms of value, rising 4.8 percent, with a peak growth rate of 7.6 percent in South Canterbury.

Credit card transactions rose 2.2 percent and debit cards rose 0.9 percent.

BusinessDesk.co.nz



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