Raiffeisen sees strong increase in payment transactions on Black Friday
Published: Friday, Nov 24th 2023, 11:00
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Not only retailers, but also banks are feeling the effects of the Black Friday discount battle. Raiffeisen banks record around 240 percent more e-banking sales on the bargain day than on an average day, as Switzerland's second-largest banking group announced on Friday.
On Black Friday a year ago, almost 1.4 million payments with a total value of more than 2 billion Swiss francs were made in Raiffeisen's e-banking, as the bank went on to write. It emphasized that last year's Black Friday fell on November 25 and therefore on a pay day - just like this year.
Compared to an average pay day, a quarter more payments were made with a 22 percent higher volume, Raiffeisen continued. The amount of an average payment in e-banking on that day was 15 percent higher than an average payment in 2022.
A look at the entire Black Week in the previous year also shows that three percent of all e-banking payments in 2022 were made during this week. This corresponds to a total of 4.5 million transactions with a volume of over 6 billion francs, according to the communiqué.
But not only e-banking, but also debit cards and Twint are used much more on Black Friday than on a normal day, according to Raiffeisen. 38 percent more money than on an average peak day was paid via Twint on Black Friday last year, wrote Raiffeisen. At 73.45 francs, the amount of an average payment on this day was one and a half times higher than the overall average for 2022.
Raiffeisen is now expecting record figures again for (today's) Black Friday, it said.
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