The total number of transactions on MasterCard cards during the Great Singapore Sale (GSS) 2012 reached about US$1.4billion (S$1.74 bil).

Singaporean and foreign MasterCard holders increased their spending by 7 per cent compared to last year.

The total amount spent during the two-month GSS was US$1.4 billion this year, up US$1 million from the US$1.3 billion in the same period last year.

The total number of transactions also hit the 10 million mark for the first time, rising 17 per cent to 10.7 million.

Figures recorded for Singapore-based MasterCard cardholders saw a 7.4 per cent increase to US$929.9 million in expenditure and a 16.7 per cent increase to 8.3 million in transactions

This is an indication that consumers are embracing electronic payments and spending more on their cards, even for smaller purchases.

Cardholders from Australia, the US, Indonesia, Malaysia and Japan emerged as the top five overseas spenders for the GSS 2012.

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