Black Friday

BLACK Friday sales appeared to have gained traction this year, according to data from FNB and Ozow.

Lender FNB said last week that by 10am on Black Friday, FNB’s systems were processing a record 3 000 transactions per second, and by lunchtime, in excess of 63 million transactions.

Chief executive of FNB Merchant Services Thokozani Dlamini said: “As at midday, transactions processed… averaged 300 transactions per second. These volumes have increased by 18 percent compared to last year. We are seeing an improvement in activity… compared to the previous year. This is due to a sustained recovery in consumer income, relaxed lockdown levels and a more open economy.”

Online payment firm Ozow’s data showed that by midday, more than half its top merchants had exceeded the total processing values that they achieved on Black Friday last year.

At least 92.32 percent of transactions were done on mobile devices and 7.15 percent on desktop. Mobile usage increased by more than 10 percent, in comparison to the average split held between devices during the year. Most spent on higher-value transactions and mainly lived or worked in more affluent areas. |

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