12 Jul '11, 3am

MasterCard cardholders spend US$676.6m in first month of GSS

MasterCard cardholders spend US$676.6m in first month of GSS

SINGAPORE: Official card for the Great Singapore Sale saw a rise in spending with MasterCard shoppers spending US$676.6 million or 49 per cent more in the first month of the Great Singapore Sale (GSS) this year compared to last year. Overall, the number of transactions rose 28 per cent to 4.7 million. MasterCard said Tuesday that spending by Singapore-based MasterCard cardholders alone went up 52 per cent to US$450.3 million, while transactions increased 30 per cent to 3.7 million. Tourist purchases went up 43 per cent compared to the same period last year with the visiting cardholders spending US$226.3 million. Cardholders from the United States, Malaysia, Australia, Indonesia and Japan were the biggest spenders in the first month of the GSS, similar to the same period last year. Mirroring the trend observed during the first weekend of the GSS, the top category of spendin...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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