On Black Friday 2025, South African consumers were poised to shatter spending records—yet many couldn’t even complete a purchase. First National Bank had forecasted R3.3 billion in retail transactions, a new high, driven by digital payments and online deals. But when shoppers tried to check out on Black Friday 2025—November 28, 2025—the bank’s mobile app collapsed under the weight of demand. Transactions failed. Notifications froze. Customers watched their carts vanish. Meanwhile, the National Credit Regulator issued a stark warning: over 10 million South Africans are already over-indebted, and this year’s sales could push them deeper into crisis.
Digital Boom Meets Digital Breakdown
FNB had every reason to be confident. In 2024, the bank processed exactly 20 million card transactions during Black Friday, peaking at 690 transactions per second. Virtual Card usage surged 59% year-over-year, contributing more than R600 million to the R3.2 billion total. That was already a record. But 2025? FNB expected similar—and greater—growth. The bank’s data showed consistent year-on-year increases since 2022, when spending first crossed R3 billion. By November 26, 2025, internal projections had already bumped the forecast to R3.3 billion. It wasn’t just optimism. It was momentum.But momentum doesn’t always mean stability. On the day itself, the app’s infrastructure buckled. Social media flooded with complaints. Some users saw charges processed twice. Others saw nothing at all. FNB later confirmed the outage was caused by unprecedented traffic volume—a problem of its own making. The same digital tools that fueled growth now exposed fragility. The bank had scaled payments faster than it scaled reliability.
Debt Warning: 10 Million Already at the Edge
While FNB celebrated transaction volumes, the National Credit Regulator sounded alarms. In a statement published by Central News on November 28, 2025, NCR spokespersons warned that reckless spending during Black Friday 2025 could trigger a wave of defaults. Over 10 million South Africans, they said, are classified as over-indebted—meaning their monthly debt repayments exceed 40% of their income. For many, Black Friday isn’t a sale. It’s a trap.
"This isn’t just about impulse buys," said one NCR analyst, speaking anonymously. "It’s about people using credit to buy essentials because their wages haven’t kept up with inflation. A R999 TV might seem like a bargain. But if you’re already paying R2,000 a month on loans, that R999 could mean skipping rent next month."
Historically, Black Friday’s hype rivals Christmas in South Africa—but the real spending peak happens between December 16 and 24. Still, the psychological pull is immense. Retailers now use AI-driven personalization, dynamic pricing, and predictive analytics to target consumers with surgical precision. Dr. Nyika, a retail economist cited by Zawya, explained: "They know exactly when you’re vulnerable. They know your browsing habits, your past purchases, even your location. And they push the deal right when you’re most likely to say yes."
The Cash Divide: Who Gets Left Behind?
Not everyone is part of the digital rush. Dr. Nyika pointed to a hidden reality: cash still rules in South Africa’s informal economy. Spaza shop owners can’t compete with big retailers on bulk discounts. They can’t afford to stock up on discounted goods. And they can’t accept digital payments, so their customers—often low-income, cash-dependent households—can’t access online deals. The result? A two-tiered shopping experience. One for those with bank accounts and smartphones. Another for those without.
"It’s not just about access," Dr. Nyika added. "It’s about trust. Many people don’t trust digital systems. They’ve seen scams. They’ve had their data stolen. They’ve been charged for services they never agreed to. So they stick to cash. Even if it means paying more."
This divide isn’t just economic. It’s social. The people most vulnerable to debt are also the least likely to benefit from the very sales event meant to help them save.
What Comes Next? The Debt Trap Looms
Looking ahead, the tension between retail innovation and financial safety is only growing. FNB plans to expand its Virtual Card offerings in 2026. Retailers are investing millions in AI tools to predict and manipulate buying behavior. Meanwhile, the National Credit Regulator has signaled it will increase monitoring of credit applications submitted in the weeks following Black Friday. Credit providers may face stricter scrutiny if they approve loans to customers who’ve just made large purchases.
But will that be enough? The data suggests not. In 2024, 18% of Black Friday shoppers used credit cards for purchases they couldn’t afford outright. That number is expected to rise in 2025. And with interest rates still above 8%, the cost of those impulse buys could haunt households for years.
The irony? The very technology that made Black Friday a financial powerhouse is also making it a financial minefield. FNB’s app crashed because it was too popular. But the real crash? That’s still coming—for millions of South Africans who thought they were getting a deal, but ended up paying the price.
Frequently Asked Questions
How many South Africans are affected by over-indebtedness during Black Friday?
The National Credit Regulator confirmed over 10 million South Africans are classified as over-indebted, meaning their debt repayments exceed 40% of their income. Many of these individuals are targeted by aggressive Black Friday marketing, increasing the risk of further financial strain. The NCR expects a spike in credit applications and defaults in the months following the event.
Why did FNB’s app fail on Black Friday 2025?
FNB’s mobile app crashed due to unprecedented transaction volume—exceeding its system capacity. In 2024, the bank processed 20 million card transactions during Black Friday, peaking at 690 transactions per second. In 2025, with Virtual Card usage up 59% and spending projected at R3.3 billion, infrastructure couldn’t keep pace. FNB acknowledged the failure was a result of rapid growth outstripping technical upgrades.
What role do AI and dynamic pricing play in Black Friday sales?
Retailers now use AI-driven personalization to track browsing habits, location data, and past purchases to time offers with surgical precision. Dynamic pricing adjusts discounts in real-time based on demand and user behavior. According to Dr. Nyika, these tools are designed to exploit psychological triggers, pushing consumers to buy when they’re most emotionally vulnerable—often leading to purchases they can’t afford.
Why are informal traders left out of Black Friday?
Spaza shop owners and informal vendors typically operate on tight margins and lack the capital to stockpile discounted goods. Unlike major retailers, they can’t negotiate bulk deals with wholesalers. Plus, most customers in informal sectors pay in cash, making digital promotions irrelevant. As a result, these businesses miss out on sales spikes, while their customers are excluded from savings, deepening economic inequality.
Is Black Friday really the biggest shopping event in South Africa?
While Black Friday generates the most hype, the actual peak shopping period runs from December 16 to December 24, as consumers prepare for Christmas. The only other event that rivals Black Friday’s intensity is the Back-to-School rush in January. But Black Friday is unique in its digital focus and debt-driven participation, making it both the most profitable and most dangerous retail day of the year.
What can consumers do to avoid falling into debt during Black Friday?
The National Credit Regulator advises setting a strict budget before the event, avoiding credit for non-essential items, and comparing prices across platforms. Consumers should also check their credit reports via the NCR’s free portal to understand their current debt load. If a deal feels too good to be true, it often is—especially if it requires signing up for new credit.
Sanket Sonar November 29, 2025
FNB’s app crash wasn’t a bug-it was a feature of unchecked growth. They scaled transactions like a startup on caffeine but never patched the underlying architecture. Same old story: revenue metrics up, technical debt exponential. The real failure? Nobody in leadership asked, ‘What happens when 10x the traffic hits?’
pravin s November 30, 2025
Man, I just hope people remember that ‘deal’ isn’t a synonym for ‘need.’ I saw my cousin take out three loans just to get a TV and a blender on Black Friday. Now she’s working two jobs just to keep up. This isn’t shopping. It’s financial self-harm.
Bharat Mewada December 1, 2025
There’s a deeper irony here. We celebrate digital convenience as progress, yet the systems we build to make life easier are the same ones that trap us in cycles of debt and anxiety. The app didn’t crash because it was overloaded-it crashed because we overloaded it with meaning. We turned a sale into a ritual of self-worth validation.
Ambika Dhal December 3, 2025
Of course the app crashed. People are buying TVs on credit while skipping meals. This isn’t capitalism-it’s a Ponzi scheme disguised as consumerism. And the banks? They’re not victims. They’re architects. They designed this trap and then got surprised when people fell in.
Vaneet Goyal December 4, 2025
Let’s be clear: FNB knew this would happen. They had the data. They had the warning signs. They chose profit over reliability. And now they’re pretending it’s an ‘unprecedented surge.’ No-it’s negligence. And the regulators? They’re asleep at the wheel. This is systemic failure, not bad luck.
Amita Sinha December 4, 2025
OMG I literally cried watching my friend try to buy socks on FNB’s app and it just froze 😭 Like... why are we even doing this? We’re all just dopamine junkies now. Buy something, feel good, then cry over the bill. It’s a cycle. A beautiful, tragic, algorithm-driven cycle.
Bhavesh Makwana December 6, 2025
Look, I get the hype. But maybe the real win isn’t the biggest sale-it’s the people who didn’t buy anything. The ones who walked away. The ones who said, ‘I don’t need this.’ That’s the quiet rebellion. And honestly? That’s the future we should be building-not more apps that crash, but more minds that pause.
Vidushi Wahal December 8, 2025
It’s wild how the same tech that connects us also isolates us. You’re scrolling through deals on your phone, feeling like you’re part of something big-but you’re alone. And when the app crashes? You’re not just stuck. You’re exposed. Vulnerable. And the system doesn’t care.
Narinder K December 9, 2025
So FNB’s app crashed… and the NCR’s warning got buried under 10,000 memes of people crying over failed checkout buttons. Classic. The real Black Friday tragedy isn’t the crash-it’s that we’re all laughing while the house burns down.
Narayana Murthy Dasara December 10, 2025
Hey, I get it-everyone wants a deal. But what if we just… talked about this more? Like, real talk. Not just ‘OMG my cart vanished’ but ‘Why do I feel like I have to buy this?’ Maybe if we slow down, we stop the cycle. Not everyone’s got to be a shopper. Some of us can be the calm in the chaos.
lakshmi shyam December 11, 2025
You people are pathetic. You think you’re saving money but you’re just feeding the machine. If you can’t afford it, don’t buy it. Simple. No excuses. No ‘AI targeted me.’ No ‘the app crashed.’ You made the choice. Own it.
Sabir Malik December 13, 2025
I’ve been thinking about this a lot. Not just the app crash, but the people behind it. The guy in Cape Town who works two shifts just to pay his loan. The woman in Soweto who buys a microwave on layaway because her fridge broke. This isn’t about technology failing. It’s about society failing. We built systems that reward consumption, not care. And now we’re surprised when people break under the weight of it. Maybe we need to rebuild-not just the app, but the values.
Debsmita Santra December 14, 2025
Let’s not forget the cash economy. The spaza shops, the street vendors, the grandmas paying in coins. They’re not on the radar of AI-driven promotions. They’re not part of the R3.3 billion. But they’re the ones holding the real economy together. The digital elite celebrate their crash while the invisible majority just keep going. That’s the real divide-not income, but dignity.
Vasudha Kamra December 15, 2025
There is a fundamental disconnect between financial innovation and financial literacy. The tools are advanced, but the users are not educated. FNB could have deployed load-balancing protocols, but they prioritized speed over safety. The National Credit Regulator issued warnings, yet consumer education campaigns remained underfunded. This was predictable. And preventable.
Abhinav Rawat December 16, 2025
Think about it: every time we click ‘Buy Now,’ we’re not just buying a product-we’re signing a contract with a system designed to extract value from us. The app crash was a glitch. But the real glitch? The belief that more spending equals more progress. We’ve turned economic growth into a moral imperative. And now we’re shocked when the system implodes. It wasn’t an accident. It was an inevitability.
Shashi Singh December 17, 2025
They knew. They ALL knew. FNB, the retailers, the AI engineers, the regulators-they’re all in on it. The crash? A controlled burn. They needed the chaos to justify the next phase: biometric payments, credit-score blackmail, mandatory spending quotas. This isn’t Black Friday. It’s Phase One of the Debt Matrix. And you? You’re still scrolling. Still buying. Still blind.