Payments update

I updated the numbers on the point in a previous post on whether removing Paywave has meant a higher proportion of payments by EFTPOS instead of credit card. And it definitely seems like it has.

On the chart below the squiggly line shows the proportion of card payments by EFTPOS as a 14 day rolling average. It is 69 per cent of all card payments across the 279 days we have data for (the grey line), but you can see what looks like a change between the orange days (when we had Paywave) and the blue (when we did not).

This is good news for us because it reduces our costs. For credit cards we have to pay a proportion of the total transaction in fees, where EFTPOS is a flat charge regardless of spend.