Consumer Payment Card News

Global Holiday Spend

The surveys say Brits will outspend Americans and Australians this holiday season by nearly three to one. Credit cards and cash are the forms of payment most utilized across the globe, but debit cards are the most utilized form of payment in the U.S this year. A MasterCard survey revealed that Australians will spend an average of US$685 this holiday season while Americans will shell-out an average of $610. UK-based APACS found that holiday spending among the British will top US$109 billion for an average of about US$1800. APACS also predicts that 64.3% of purchases will be made using a plastic card, while credit cards will remain the least popular method of payment, 10% of spending will be made over the Internet and total spending will increase 4.2% since last year. MasterCard noted that anticipated spending is by far the lowest in Mexico at US$296. MasterCard also found that in the U.S., 26% of shoppers did not shop online last year for holiday gifts, but intend to this year. In Australia, it is 46% and New Zealand and Singapore are both at 41%. Consumers surveyed are interested in the idea of purchasing prepaid gift cards as gifts this holiday season. Half of the U.S. consumers surveyed and two in five in Canada, Australia, and New Zealand find the idea of purchasing gift cards “extremely” or “very appealing.”

Leave A Reply