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Payment cards dominate e-commerce payments in New Zealand with 57% share, reveals GlobalData [Yahoo! Finance]
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GlobalData E-Commerce Analytics tool GlobalData's E-Commerce Analytics tool reveals that e-commerce market in New Zealand grew by 14% in 2023 to reach NZD12.3bn ($7.6bn), as increasing number of consumers shift from offline to online purchases. The e-commerce market is estimated to grow by 12.1% to reach NZD13.8bn ($8.5bn) in 2024. Kartik Challa, Senior Banking and Payments Analyst at GlobalData, said: “The e-commerce market is well developed, supported by the country's robust technology infrastructure, which ensures the availability of high-speed internet. In addition, the availability of secure online payment systems, expansion of logistics services, and the increasing number of online shoppers all supported e-commerce growth.” Additionally, attractive offers during key online shopping events such as Black Friday, Singles' Day, Click Frenzy, and Cyber Monday have contributed significantly to the e-commerce growth. Meanwhile, the presence of secure payment solutions, such as
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