The payments company expects to process more than 33 million transactions through the course of the day, totalling an expected  £1.5 billion. 

This works out to an average of £1 million every minute of the day, yet the busiest shopping hour of the year is predicted to be the hour between 12pm and 1pm on Saturday, Christmas Eve. 

Commercial Director at VISA Europe, Dr Steve Perry, says, “We’ve seen strong growth in online sales and we expect that the 23rd will be the busiest ever shopping day for the amount of money spent on VISA cards, increasing by 8% compared against last year.”

So if you have any last minute shopping to do, then you face stiff competition out there!