A Wave Of Spending At Home

Paymark figures reveal a continued mixed retail sector. Underlying spending through Accommodation merchants across the network in the June quarter was $0.3 billion, up 162.5% on the same quarter last year but still 13% below the pre-Covid levels of 2019. The sector had suffered badly during in the typical busy quarters ending March 2021 (36.5% below 2019) and December 2020 (30.3% below 2019).

In contrast, the rest of the Core Retail sector have consistently reported spending above 2019 and 2020 in recent months. Spending for the Core Retail excluding Accommodation merchants through Paymark was $10.9 billion in the June quarter, up 29.1% on 2020 and, significantly, up 11.4% on the 2019 pre-Covid levels.

 All Cards NZ underlying spending through Paymark for core retail merchants monthly trend (* Underlying spending excludes large clients moving to or from Paymark)

Taking just the latest month, underlying Core Retail spending through Paymark – including Accommodation – was $3.6 billion in June, up 3.6% on June last year. The annual growth rate was highest in Taranaki (+7.0%) and lowest in Marlborough (-1.8%) and Wellington (-0.8%).

All Cards NZ underlying spending through Paymark for core retail merchants by region in June 2021 (* Underlying spending excludes large clients moving to or from Paymark)

The Wellington drop was in part due to the Covid-19 Alert Level 2 restraints and in part due to slow growth during the rest of the month. Spending through Paymark amongst Wellington Core Retail merchants declined $8.0 million or 9.1% on 23-June to 29-June from the same days in 2020, with the impact spread across a wide range of merchants. Spending on the other 23 days of the June in Wellington was only up 2.4% on last year, below the growth rate experienced amongst merchants in other regions.

Paymark also processes payments for automotive and non-retail merchants which are not reported above.

About Paymark

We are New Zealand's leading payments innovator.

At Paymark we design, build and deliver payment solutions that help Kiwi business succeed. Whether you’re looking for in store, online or mobile payment solutions or powerful business insights, Paymark is here to help.

It is technology, backed by experience.

www.paymark.co.nz

About Worldline

Worldline is the European leader in the payments and transactional services industry and #4 player worldwide. With its global reach and its commitment to innovation, Worldline is the technology partner of choice for merchants, banks and third-party acquirers as well as public transport operators, government agencies and industrial companies in all sectors. Powered by over 20,000 employees in more than 50 countries, Worldline provides its clients with sustainable, trusted and secure solutions across the payment value chain, fostering their business growth wherever they are. Services offered by Worldline in the areas of Merchant Services; Terminals, Solutions & Services; Financial Services and Mobility & e-Transactional Services include domestic and cross-border commercial acquiring, both in-store and online, highly-secure payment transaction processing, a broad portfolio of payment terminals as well as e-ticketing and digital services in the industrial environment. In 2019 Worldline generated a proforma revenue of 5.3 billion euros. worldline.com

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