In this section
Offers for readers
Follow the news from interest
The comment stream
Recent comments
- 1 of 20818
- ››
Editors choice
- 1 of 295
- ››
Finance sector jobs
Lead from the front utilising your strategic, technical and leadership qualities within th...more
New Zealand
Lead from the front utilising your technical expertise in this highly attractive senior li...more
New Zealand
Customer focus, high performance, exceeding client expectations and achieving profitable g...more
New Zealand
Key leadership position in the bank. Be a part of one of the fastest growing banks in New ...more
New Zealand
The news stream
Latest news
Most commented
- Fonterra to tighten TAF rules 67
- Govt eyes NZ$1.4b revenue grab 58
- English defends current account blowout 56
- 90 seconds at 9 am 51
- BNZ cuts most fixed mortgage rates 48
- 90 seconds at 9 am 43
- Thursday's Top 10 with NZ Mint 38
- Budget 2012 reactions 36
- Budget tax moves to target high income NZers 29
- Wednesday's Top 10 with NZ Mint 24
Most viewed
Card spending rises in July; Credit card use up off May low
The trend in electronic card spending in New Zealand rose slightly for the sixth consecutive month in July, with the unadjusted value of spending showing its usual rise from June, figures released by Statistics New Zealand (Stats NZ) show.
The seasonally adjusted total value of electronic card transactions rose 1.2% from June, while unadjusted electronic card spending was up 2% from July 2008.
"The non-retail industries (which include services such as travel and health, and wholesaling) and consumables industries (which include food, liquor, and chemist retailing) were the main contributors to the July increase," Stats NZ said.
"The durables industries (which include furniture, hardware and appliance retailing) and the automotive fuel retailing industry had small falls in July," it said.
The rising trend in electronic card spending for the core retail sector has slowed slightly over the last three months, but spending is still seen to be rising slightly. Seasonally adjusted figures show the amount spent in core retail rose 1.1% from June, while actual figures show spending was up 4% from a year ago.
The proportion of transactions that were made with credit cards rose again slightly over the month, from 43.4% in June to 43.7% in July. The proportion of transactions made with credit cards had fallen from 46.4% in February to a low of 43.1% in May.
The average card transaction value also rose to NZ$52 from the low of NZ$51 in both June and May.
Carrying a credit card is
Carrying a credit card is a convenience to me, as it eliminates the need to carry any cash for most purposes.
Hey BF, am I right
Hey BF, am I right in thinking we are all soon likely to be paying the shops to use our cards?
that's right Wally. Retailers used
that's right Wally. Retailers used to have the suck up the 1 to 5% fee fee the credit companies charged them. Recent court case has ruled the retailers can now pass that on to the consumers.
We were all really paying it in higher prices for our goods. It was illegal to give me a discount if I did not use a credit card and paid in cash. Now for cash I will be able to get a discount.
I only use my Credit Card to get airpoints. If I have to pay a percentage for the privilege of that I will stop using it and use cash or my kiwibank oncall eftpos card.
The winners who don't mind paying interest each month on their Credit Cards will still use them though. Those types just don't understand.....
I suspect the shops that
I suspect the shops that try to charge for the use of the cards, will find themselves in a deluge of cash stuffing the tills and needing constant clearing with the cost of security firms etc and the higher incidence of robbery. Bet the shops that intro a charge don't lower their prices!