FNB sees increase in Black Friday spend by volume by its card holders

FNB says between midnight and 10am on Friday spend by its card holders was up 30% in values and 25% in volumes compared to the same period last year.

“Our total systems transactions per second peaked at 3,442. Overall, the total number of transactions processed through our payment systems were just over 5-million by midday,” FNB said.

It said brick and mortar Black Friday activity rebounded with volumes having increased 53% by midday compared to the previous year when consumers were shopping with face masks due to the pandemic.

The bank said it was also seeing a continued increase in e-commerce transactions as some consumers opted to shop online.

“By midday e-commerce transaction volumes had increased by 40% as e-commerce continued its success story into 2022, with every year seeing growth accelerated.”

FNB said it has also seen a return to popular categories such as clothing and non-perishable items, travel and groceries. This was based on total spend seen thus far.

TimesLIVE

Support independent journalism by subscribing to the Sunday Times. Just R20 for the first month.