The benefits of using a credit card payment gateway on ecommerce sites don't stop at providing better service for Australian customers. They also enable online stores to reach consumers just across the Tasman, which is good news for Australian businesses after new statistics show New Zealand purchases with electronic cards grew at a greater rate than was expected during November.
Kiwi retail spending on debit, credit and charge cards rose 0.5 percent month-over-month
seasonally adjusted in November after a 0.4 percent increase in October, Statistics New Zealand said. The year-over-year increase was even more encouraging, as retail spending on electronic cards rose 6.2 percent from November 2011.
Both increases beat Reuter projections, which forecasted a 0.4 percent monthly gain and a 4.6 year-over-year increase.
The biggest drivers of the increase were spending on hospitality; including accommodations, bars, cafes and restaurants, which was up 2.6 percent from the month prior. Electronic spending on durables was also up 1.6 percent. Transactions for core retail groups, excluding motor vehicle-related spending, gained 1 percent in November over the month before, a notable growth after the same spending was up 0.3 percent in October.