BankservAfrica, Africa’s largest automated payments clearing house, has released its transaction statistics for Black Friday and Cyber Monday.The clearing house says it processed 4,7-million card transactions of which 260 552 were online transactions on Black Friday, 24 November 2017.
Black Friday shoppers were the most active between 16:00 and 17:00 when 395 791 store transactions were processed. There were R2,5-billion worth of debit and credit card retail transactions.
“The sheer size and value of the transactions processed during Black Friday, and the growth experienced on 2016’s figures, reflects the success of this annual shopper’s day,” says Chris Hamilton, CEO of BankservAfrica. “On our end, Black Friday has been a remarkable day in the performance of our payment system with transactional clearances being twice our daily average.”
Black Friday also proved to be more popular than Cyber Monday. According to BankservAfrica’s figures, 260 552 transactions were cleared on Black Friday compared to Cyber Monday’s 129 458. The most expensive transaction for Black Friday was valued at R1-million. For Cyber Monday, this was R663 041.