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Consumers in New Zealand made 90 million credit and debit card transactions in August, up 5.9% from 85 million during the same month last year, according to Statistics New Zealand, a government agency. The average transaction amount per card purchase during the first eight month of the year declined 5.6%, to NZ$51 (US$36 or 25 euros) from NZ$54 for the same period last year, the agency reports. Debit card transactions accounted for 56.8% of total card transactions in August, up 210 basis points from 54.7% for the same month last year. Credit cards accounted for 43.2% of card transactions, down 210 basis points from 45.3%. "It's not surprising to see a drop off in credit card use as people try to pay down expensive debt in times of economic hardship," Matthew Sinclair, executive director of Australia-based Carpadium Consulting, tells CardLine Global.
