Potential use of EFTPOS data in New Zealand for Official Statistics
by
Robert Templeton
Statistics New Zealand

The use of electronic funds transfer at point of sale (EFTPOS) for payment of transactions is now very common throughout New Zealand and it use continues to increase as it becomes the preferred method of payment. About 60 percent of retail sales are paid by use of EFTPOS. As well, its use is becoming widely accepted in service areas such as local authority services, entertainment, medical and travel. This breadth and extent of EFTPOS transactions has reached the stage where Statistics New Zealand has started investigations into its potential use in the production of existing and new official statistics.

The data has the potential to be used in the following areas: (i) more timely information on retail sales as a leading economic indicator,(ii) improve the coverage of existing monthly retail sales estimates to include some more service areas and(iii) improve seasonal and trend analysis of existing retail sales series.

In addition, the EFTPOS service providers ask clients to notify changes in business ownership two weeks in advance, which might provide a source for updating the frame of businesses.

This paper discusses the three listed potential applications, after some details on the data available are outlined.

Date received: April 4, 2002