Home Business NewsBusinessBanking Barclaycard payments Cyber Monday update & Black Wednesday data

Barclaycard payments Cyber Monday update & Black Wednesday data

by LLB Finance Reporter
1st Dec 20 12:00 pm

Barclaycard Payments, which processes nearly £1 in every £3 spent in the UK, has so far as of 4pm on Monday, saw a 9.9% decrease in the volume of payments compared to the same period on Cyber Monday last year.

Rob Cameron, CEO of Barclaycard Payments said, “While transaction volumes are still down compared to last year, the gap has narrowed considerably since Black Friday, and this is likely the result of strong e-commerce sales. That being said, the drop overall was expected, given that many physical stores are still unable to open, and many retailers have been spreading out their online deals throughout the month to avoid a bottleneck.

“All eyes are now on this coming Wednesday, the end of the national lockdown in England when we predict that shoppers heading back to the high street will bring about a ‘Black Wednesday,’ with transactions likely surpassing what we’ve seen over the past month.”

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