A combination of pay day for the majority of consumers falling on the last Friday of the month and a weekend spent browsing the shops results in shoppers logging on to buy their gifts online on the subsequent Monday, a Visa Europe report has found.
All of these factors will result in consumers spending £222,222 per minute, making 4,722 transactions every 60 seconds.
More top news
Donald Trump has accused Barack Obama of failing to take action over Russia's alleged interference in the US election.
Ministers are reportedly 'dropping' plans to ease fire safety standards in new schools in the wake of the Grenfell Tower fire.
A 24-year-old mum has been arrested on suspicion of two counts of injury to a child after her young children were found dead in a hot car.