According to Kelkoo, 'Manic Monday' is forecast to hit the equivalent of £22.4 Million an hour. Visa Europe has said that the busiest online shopping day in the previous two years had fallen on the Monday closest to the start of December.
Peak time for today's manic shopping is expected to hit at lunchtime - 1-2pm, with around £6,200 spent per second online today.
A study by Visa had found 74% of consumers planned to buy presents online this Christmas, with 30% looking to do more shopping on the internet than last year.
Visa Europe commercial director Steve Perry said:
"Shopping online is now a natural part of the gift-buying process for consumers and a key part of Christmas sales strategy for retailers. The combination of monthly salaries being paid and people taking delivery times into consideration should combine to deliver a record day for internet shopping."