Barclaycard Payments records 29% rise in value of online transactions

By Megha Bhattacharya

Barclaycard Payments today announced that it has seen a 29% jump in the value of online transactions this month as compared to November 2019. The company also noticed that overall transactions have remained 7% below as compared to last year. This development could be attributed to the drop in in-store sales.

Rob Cameron, CEO of Barclaycard Payments, said, “Over the past couple of years, we’ve seen an increase in the volume of transactions on Black Friday. 2020 is unique, and with many stores across the UK currently unable to open, we expect a different picture this year.

“The silver lining is that businesses are seeing sustained year-on-year growth in e-commerce. Already this month Barclaycard has seen a 29 per cent increase in the value of online transactions processed, and this is even higher in key ‘gift’ categories such as electronics, cosmetics and jewellery. This growth signals both a change in consumer behaviour, with people unable to buy gifts in-store, and the fact that many retailers have been spreading out their discounts throughout November, meaning shoppers can take advantage of early bargains.”

“Retailers can respond to this shift to e-commerce by ensuring their online payment solutions are easy to use, and provide a seamless customer experience in time for the Christmas shopping rush.”

Recently, Barclaycard announced the launch of Barclaycard Payment Intelligence (BPI), a service using in-depth data analytics for equipping procurement departments with a fair picture of their supply chain-driving cost efficiencies. The new service is expected to help customers develop the right payment solutions for their various suppliers quickly. Barclaycard Germany also announced a partnership with Amazon in a bid to offer financing for purchases made through Amazon.de above €100.