
Retail spend up 5.6pc on last year
Retail spending continues to rise with electronic card transaction sales up 5.6 per cent or $270 million on the same period last year.
Stories and analysis from The Northern Express Herald.
The latest data from Paymark showed a 6.6 per cent increase in spending for the month of December on the last year.
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New Zealand retail spending on electronic cards fell in November, amid disruption from the Kaikoura earthquake.
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More financial services companies are embracing the technology.
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Children as young as 12 are targeting contactless credit and debit cards in Rotorua.
The nation's tourism boom drove up retail spending and demand for restaurants, takeaway shops, and accommodation.
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Poorer households in New Zealand are subsidising wealthier households to the tune of $59 million a year through credit card reward schemes.
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Spending on electronic cards fell in August, led by a decline at hospitality venues.
Environment Canterbury is publishing credit card expenditure on their website in a bid to increase its "openness and transparency."
Kiwis are opening their wallets with retail spending up for the June quarter, rising at the fastest pace in close to a decade.
There's been a call for credit card companies to be scrutinised for the levies they charge companies.
Online retail sales were up 10 per cent June, according to the BNZ's latest monthly spending report.
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Retail spending was up in June - with durable goods: furniture, hardware, appliances leading the charge.
After Thursday's Brexit vote, there has been a "dramatic" drop in credit card spending over last weekend.
New Zealanders cut their retail spending on credit and debit cards for the first time in 13 months in May.
Retail spending on credit and debit cards rose in March, led by increased spending at bars and restaurants.
Tourists appear to be spending more on their credit cards in New Zealand, led by visitors from Australia and the UK.
Retail spending on electronic cards rose for a 10th straight month in February, led by an increase in consumables.
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