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Tranaction And Payments Data For September

Contributor:
Fuseworks Media
Fuseworks Media
Tranaction And Payments Data For September

Attached is issue 21 of the MasterCard Papers series. The latest transaction and payments data issued by the Reserve Bank of New Zealand and Statistics New Zealand show continued softening across many key measures. Highlights from September include:

Card Transactions

* The value of electronic transactions in New Zealand in September 2009 fell by $49.1 million to $4.595 billion. Total spend for the rolling year sits at $56.636 billion.

* The number of transactions in September sat at around 90 million, bringing the total rolling year number of electronic transactions to 1.070 billion.

* We are witnessing historically significant declines in the annual rate of growth of electronic transaction spend. The latest release shows the annual rate dropping to 1.25% Outstandings

* Balances across all cards rose in September, by $38 million to $5.189 billion.

* The slowing rate of growth since September 2008 has pushed the annual growth rate for credit card balances into the red for the first time, down 0.81% on the same time last year. Credit Limits

* Total credit card limits fell again in September - the ninth time in the last ten months - by $9 million to $17,526 billion.

* Utilisation saw a rise - up 0.23% to 29.61%.

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