Black Friday fraud warning for South African shoppers

South Africa is set for more than R3.3 billion in Black Friday spending in 2025, with FNB predicting strong growth in digital payments, online shopping, and early bargain-hunting driven by consumers.

This period of intensive shopping comes with increased risk of fraud and scams, as criminals look to take advantage of higher spending activity.

According to FNB, early signals for 2025 indicate consistent customer spending and sustained adoption of secure digital payment methods, positioning the year for solid activity across both physical and online retail.

In 2024, over R5.4 billion in transactions were processed on FNB Speedpoint devices throughout the Black Friday weekend.

The bank said eCommerce was a major driver of activity, recording a 37% increase in transaction values and a 76% increase in transaction volumes.

Virtual Card spending grew by 59% year-on-year, contributing more than R600 million to the total Black Friday spend.

Based on the prior year’s performance and the bank’s year-to-date activity, FNB said it expects to see similar patterns in 2025.

Digital wallets and virtual cards remain among the fastest-growing payment methods, while cash usage continues to decline across the market.

Online shopping is expected to accelerate further as more customers seek convenience, security and competitive promotions.

FNB Credit Card Business Development Head Akshay Bhayroo said customer behaviour over the year shows that South Africans are making deliberate choices about how and when they spend.

This includes shifting their budgets towards essentials, prioritising discounts, and timing purchases to align with promotional periods.

“We expect digital payments to play an even larger role this Black Friday as customers look for convenience, safety and real value,” Bhayroo said.

“Last year set a strong foundation, and the momentum across 2025 suggests that this year will follow a similar pattern of steady growth across both online and in-store retail.”

FNB said it anticipates earlier shopping behaviour to continue. In 2024, spending from a week ahead of the main Black Friday event rose by 25% compared to 7% the year before.

In 2025, retailers have again released promotions earlier than in previous years. Grocery, clothing and entertainment categories are likely to remain the most active, with tourism and apparel expected to show continued resilience.

Safety measures increase in popularity

FNB explained that it expects customers to rely more heavily on digital safety features during the 2025 Black Friday period.

These features include, for example, virtual cards, which offer a dynamic CVV that changes frequently. Some cards also offer purchase protection insurance on qualifying online purchases.

The bank said it also expects to see increased use of budgeting tools, such as Nav Smart Budgeting on the FNB Banking App, as households plan their holiday spending.

These anticipated trends reflect broader shifts in customer behaviour, including greater comfort with secure digital payments, a growing preference for contactless options and increased use of rewards to stretch budgets.

In 2024, online purchases accounted for 42% of all credit card customers’ spending, a 17% rise year-over-year, while digital wallets represented 18% of all in-store transactions, increasing by 43% year-over-year.

FNB said it will continue to support customers throughout the promotional period by encouraging safer transacting, budgeting discipline and the use of rewards to maximise value over the festive season.

FNB also urged customers to remain vigilant, keeping their sensitive bank card details, device and banking channel log-in credentials known only to themselves.

Fraud tends to increase during events like Black Friday, when customers expect to find deals and may not be completely vigilant when shopping.

The bank stressed that it is critical to remember that banking representatives will never ask customers to divulge sensitive information.