Christmas has gotten off to a slow start. With Christmas Day now less than 10 days away, the latest figures from Paymark show a relatively slow start to retail spending in the key Christmas selling season. Paymark figures show that New Zealanders spent NZ$1.76 billion through its network in the first two weeks of December. This is up just 1.7 percent compared to the same fortnight in 2007. Paymark has processed more than 33 million transactions during the month to date, which is up 6.7 percent on last year. Paymark processes more than three quarters of all in store electronic transactions in New Zealand. * This article was first published yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.
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