Christmas Eve saw a record number of transactions through Paymark's Eftpos system.
The peak was hit at 12:21pm, with 157.46 transactions per second, up slightly from 2014's peak of 156.13. As at 1pm, Kiwis had already spent more than $147 million.
Paymark chief executive Mark Rushworth said Christmas Eve was always guaranteed to test their systems.
"Throughout the year we typically see 50 to 60 transactions per second and during December we saw that average figure creep up into the 115-120 range, but this is a new record for us".
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The company says the total value of spend on Wednesday the 23rd was higher than on Christmas Eve last year, suggesting retailers will benefit from two days of strong trading. Paymark processes Eftpos transactions for more than 75 per cent of New Zealand's retailers.
Full figures for Christmas Eve and data on Boxing Day are due to be published on Monday.