Mastercard cardholders spending in Great Singapore Sale up 4.9%

US$709.6 million were spent on the first month.

In a release by MasterCard, its cardholders spent US$709.6 million in the first month of the Great Singapore Sale (28 May - 23 June 2012), maintaining the buoyant spend achieved during the same period last year (27 May - 25 June 2011), with an increase of 4.9%. Overall, the number of transactions rose 15.4% to 5,449,066 this year.

Here's more from MasterCard:

Spend by Singapore-based MasterCard cardholders holds steady with a 4.5% increase to US$470.6 million, while transactions increased by 15% to 4,244,567. The number of MasterCard PayPass transactions grew by 42 times and total spend jumped by over 600%. This great growth in PayPass transactions not only showcases MasterCard’s efforts in bringing payment innovation closer to the lives of consumers but also that contactless payments are gradually being accepted by consumers in Singapore.

The top category of spend for Singapore-based MasterCard cardholders over the first month of the Sale remains Eating Places and Restaurants. Singapore-based MasterCard cardholders spent US$30.6 million dining out in the first month of the Sale. The number of transactions at Eating Places and Restaurants was also up 10% from the same period last year at 443,916.

Meanwhile, tourists have also upheld their spending during this first month of the GSS 2012, purchasing US$238.9 million worth of goods and services, an increase of 5.6% as compared to the same period last year.