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Christmas is a time for PayPal

11/12/2019 · PayPal (PYPL) 

Retail Technology US

Small Cyber Monday shopping trolley on a button

In 2019, more Christmas presents are being bought via smartphone apps than ever before. That is great news for the world’s biggest digital payments processor.

The four hours between 10pm and 2am (ET) on Monday 2 December have been 2019’s golden hours of retail. In that short window on Cyber Monday retailers collected an estimated $2.8bn of revenue. During the peak hour (11pm – 12am), consumers were spending an average of $11m every minute.

Buying Christmas presents in the main sales weekend at the end of November (encompassing Black Friday and Cyber Monday) is a burgeoning trend which started in the US and has now spread globally. The sugar rush of revenues is a pleasant treat for retailers going into Christmas. But come the new year,…

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