Paymark to release coronavirus-related spending data this week

A much clearer picture of the financial impact of coronavirus will emerge this week when Paymark releases its first spending data since the crisis began escalating.

Eftpos transaction (file picture). Source: Supplied

Paymark collates spending data from more than 100,000 EFTPOS machines around New Zealand.

The company has not analysed any spending data in the last fortnight as it has been busy with coronavirus related precautions like preparing and relocating staff to work from home.

A spokesperson for Paymark, Paul Brislen, says the company's economist will start working on a 'high level breakdown tomorrow' which will hopefully be released on Tuesday or Wednesday.

"The data will show regional spending and year-on-year sales volume," Mr Brislen says. "It will give a clear comparison with sales last year across the retail sector, supermarkets and international credit card spending by inbound tourists."

In the coming months, Paymark will also be working towards weekly data collation instead of its usual monthly analysis to help businesses track performance.

Mr Brislen says Paymark is also releasing a free "Insights Package for Retailers" tomorrow.