The overall number of Black Friday transactions increased by 36 per cent this year, according to year-on-year data from payment service provider Mollie.

In 2020, this shot up to a growth of 56 per cent on the 2019 numbers, representing a difference of 20 per cent.

The research also found that the use of flexible payment services like ‘buy now pay later’ more than doubled.

Even in the four days leading up to the shopping event there was 58 per cent year-on-year growth year-on-year growth in transactions.

The Mollie study spans 101,000 merchants across Europe, primarily from Germany, U.K., France, the Netherlands and Belgium.

“There is a lot of pressure on consumers’ wallets at the moment, which is making people look to payment methods that offer them financial security,” said Ken Serdons, chief commercial officer at Mollie. “It makes sense that FinTech like Klarna, who have performed phenomenally well this year, have been so popular this Black Friday. The increase is in-line with this growing trend towards more flexibility in how consumers pay for goods.”

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