Payfast Ecommerce Performance News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Following a record-breaking Black Friday weekend in 2020, this year’s total online transaction volumes increased by a further 34% – as well as a 30% increase in total purchase values overall – highlighting a long-term shift in consumer behaviour as a result of the pandemic. This is according to data released by online payment gateway […]

2020 blurred conventional lines of ecommerce, with sectors that historically had low digital payment penetration experiencing higher demand, as more people shopped online. Jonathan Smit, PayFastPayFast saw unprecedented growth in industries that previously had a limited need for digital payments. These included a 1,787% year-on-year increase for online liquor stores; a 683% uptake in telecommunications services and a 512% increase in restaurant orders. These figures are based on total payment volumes processed in 2020 compared to 2019. 2021 will continue to see the digitisation of payments...