CAPE TOWN – At its height, Standard Bank customers were transacting at 41 online transactions per second, taking advantage of Cyber Monday specials at online retailers, the lender said on Tuesday.
Cyber Monday typically follows Black Friday – which comes after the Thanksgiving holiday in the US – and was created by retailers to encourage people to shop online.
The top five domestic retailers on Cyber Monday included general consumer sites, ride sharing apps and two local airlines, according to Standard Bank. The top five non-South African retailers were made up of airlines and hotel reservation sites.
Cyber Monday closed out a very busy and active retail trading week for many South African retailers and consumers.
Standard Bank, one of the country’s largest credit card providers, said Black Friday transactions increased by 13 percent year on year, while Cyber Monday transactions grew by a 16 percent on a year on year comparative basis, while the value of online purchases increased by 21 percent.