While February eftpos results have declined slightly from January as spending returns to “normal” after the traditional holiday period, the results were still strong.
Eftpos has reported that total eftpos volume for February 2012 was 14.3 per cent above the same period last year.
eftpos managing director Bruce Mansfield said there were more than 11 million additional eftpos cash out transactions made by shoppers in the 12 months to February 2012, compared to the previous year.
The February results also reported an increase in customers getting cash out when they are shopping rather than using an ATM, with 268 million cash out transactions made over the past year.
Mansfield said the figures represented 4.3 per cent growth in eftpos cash out transactions for the 12 month period.
“In the month of February 2012 alone, there were almost a million additional cash out transactions made at checkouts around the country, compared to February 2011,” he said.
“The increasing popularity of the eftpos cash out service is largely due to the convenience of being able to make the transaction as part of the shopping experience.”
According to the latest data from the Reserve Bank of Australia, the trend towards using debit to pay for goods and services continued in February 2012.
Mansfield said the continuing debit trend was possibly the result of consumer sentiment and a desire for people to take control of their own spending.