Payments This Season: Black Friday Observations & Cyber Predictions
11-28-2016
ETA member company PayPal released its early findings from Black Friday, and they say more people were shopping via mobile than ever before. Of the payments PayPal processed on the shopping season’s traditional kick-off, 33% percent were completed using mobile devices. Another interesting find from PayPal is that they saw nearly $22,350 more sales volume on Thanksgiving Day than on Black Friday itself.
The declining importance of Black Friday, and the increase in mobile and on-line shopping was also noted in ETA member company Visa’s 2016 Holiday Shopping Forecast. In fact, nearly half of all consumers Visa surveyed said they plan to do more than half of their holiday shopping on-line this year. Visa predicts that 15% of 2016’s total holiday shopping will be done using mobile devices.
The convenience of electronic payments is clearly making a big impact on holiday sales. Check back with Transaction Trends this week for the release of in-depth analysis of this season’s payments trends compiled by ETA and The Strawhecker Group.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.
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