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Black Friday trumps Cyber Monday: BankservAfrica

7 Dec 2017

Black Friday proved to be more popular than Cyber Monday this year, says automated payments clearing house BankservAfrica. According to the company's figures, 260,552 transactions were cleared on Black Friday compared to Cyber Monday's 129,458.

On Black Friday, BankservAfrica processed 4.7 million card transactions of which 260,552 were online transactions. The most expensive transaction for Black Friday was valued at R1 million. For Cyber Monday, this was R663,041.

The company said that Black Friday shoppers were the most active between 16:00 and 17:00 when 395,791 store transactions were processed. There was 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.”