We are pleased to present Absa's latest Merchant Spend Analytics report. 

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Card spending remained volatile, with August recording a 4.2% decline following a strong rebound in July. This fluctuation is largely driven by seasonal sales and targeted retailer campaigns. This pattern of alternating contraction and expansion has become a hallmark of 2025, reflecting both the impact of retailer promotions and the cautious sentiment among consumers navigating a challenging economic environment.  Additionally,  the average transaction value (ATV) declined in both July and August.

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Year-to-date (YTD)
Online spending continues to grow at a double-digit pace, outstripping in-store spending growth. Physical stores still account for the majority of card transactions, showing that traditional retail remains dominant. Meanwhile, alternative payment methods such as Pay by Bank, Buy Now Pay Later, and mobile wallets are rapidly gaining traction, even as credit and debit cards remain widely used. This shift is occurring alongside a slowdown in card usage as observed in our YTD August 2025 data, as consumers seek greater security and convenience.