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Food a popular digital wallet purchase for Black Friday shoppers

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Consumers are increasingly pulling out their digital wallets to make payments during the Black Friday through Cyber Monday shopping frenzy, according to an analysis by payments processor The Members Group. The analysis of more than 3.8 million transactions by Clive-based TMG showed that digital wallet transactions (mostly using Apple Pay) are a tiny but growing slice of the payments pie. Of the 3,673 digital wallet transactions recorded, food was the most popular purchase category, with Trader Joe’s, Whole Foods, Starbucks, McDonald’s, Sprout’s Farmers Market and Panera Bread among the top purchase destinations. Of the cardholders who made at least one digital wallet transaction over the holiday weekend, the largest segment (31 percent) was composed of consumers in their 30s. Consumers ages 18 to 29 and ages 40 to 49 made up the next largest groups at roughly 24 percent each. Total “card not present” credit and debit transactions represented 25 percent of all cardholder transactions tallied by TMG during the Black Friday-Cyber Monday holiday, up from 20 percent in 2014.