A Report by CYS Global Remit FinTech Development Unit
The 2024 Black Friday Cyber Monday (BFCM) season has set a remarkable benchmark in global e-commerce, with data from Stripe showcasing extraordinary growth in online transactions around the world.
Record-Breaking Performance
Stripe's platform facilitated a remarkable £24.3 billion (31 billion USD) across 465 million transactions during the BFCM period. At peak performance, the platform processed an astounding 137,000 transactions per minute while maintaining exceptional reliability, achieving an API uptime exceeding 99.9999%.
Global Market Expansion
The data illustrates BFCM's transformation from a predominantly U.S.-focused event to a truly worldwide phenomenon. Cross-border payments reached £2.5 billion (3.2 billion USD) across 43 million transactions, accounting for over 10% of the total transaction volume.
Leading Currencies
The top 10 transacted currencies during BFCM 2024 were:
US Dollar
British Pound
Euro
Australian Dollar
Canadian Dollar
Japanese Yen
Singapore Dollar
Hong Kong Dollar
New Zealand Dollar
Mexican Peso
Modern Payment Trends
This year's BFCM highlighted significant changes in consumer payment preferences:
Digital Wallets and BNPL: Contemporary payment methods gained considerable momentum, with digital wallets and buy-now-pay-later (BNPL) options witnessing particularly strong adoption rates.
Increased Transaction Values: The average transaction value reached £95 ($121) per card or wallet payment, reflecting a 4.3% increase compared to 2023.
Cryptocurrency Milestone: For the first time, cryptocurrency payments were tracked in 2024, with adoption across 36 markets, led by the United States in crypto transaction volume
Conclusion
The results from BFCM 2024 not only exemplify the ongoing shift toward digital commerce but also emphasize the essential role of a robust global payment infrastructure in facilitating international trade. The data reveals that reliable payment systems and a variety of payment options are becoming increasingly critical for the success of e-commerce operations worldwide.
Коментарі