BusinessTech Africa has found that one South African consumer has splashed close to half a million on Black Friday deals.
Various media publications in South Africa reveal that PayFast’s BFCM 2022 statistics portal is live and it permits users to trace their spending.
The portal is mainly focusing on South African customers and looks at this year’s Black Friday and Cyber Monday.
Mybroadband has it that the PayFast portal was established in 2007 and has become one of the country’s major payment gateway providers, supporting numerous popular payment methods that can integrate with over 80 platforms and custom integrations.
It is reported that PayFast serves over 80,000 merchants with e-commerce, invoicing, event ticketing, and donation-accepting tools.
Prominent companies counted include big names such as Takealot, Superbalist, and Hollywood Bets.
This year, the tracking tool or platform has managed to track down the top 5 list of shoppers with the highest total spend.
The website reports that a single shopper spent R397, 217 across two transactions, while the largest number of transactions by a single shopper at the time of publication was six, with their total spending coming to R520.
“PayFast also tracks the top payment methods used by shoppers, the top banks among customers that paid with EFT, and a per-province breakdown of transaction data,” said the website.
“As of 07:00 on November 25, 2022, the highest value of a single online transaction since 00:00 was R284,625, while the average basket value across the country stood at R1,365.”
These numbers were remarkable, particularly considering there were a number of hours to go on Black Friday alone.
Checking out last year’s statistics, PayFast recorded a 34% increase in transaction volumes and 30% in total purchase value compared to 2020.
The portal also registered 30% more shoppers making purchases online deals from PayFast-enabled merchants.
As a result of its large footprint, the payments provider has access to a wealth of online transaction information, some of which it shares in real time on its BFCM website.
Back in 2021, the biggest single transaction value recorded over the entire Black Friday weekend stands at R169,855, with the average basket size at R1,208.
