New Zealand's payments provider Paymark data
- Spending on electronic cards up 0.9% q/q and up 4.2% y/y
- +1.3% q/q when spending at fuel merchants excluded
- March spend was up 2.5% y/y
Although higher, those rates are just under the longer run average (5 years average)
Comments from the firm:
- slower growth momentum at present
- monthly spending pattern can be volatile, as … too have the quarterly figures … of late but a clear pattern has emerged of spending growth having decelerated
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Paymark processes over 70% of card transactions (debit and credit) in NZ.