Wikipedia states…
The exact etymology of the term “boxing” isunclear. There are several competing theories, none of which is definitive.[1]The European tradition, which has long included giving money and other gifts tothose who were needy and in service positions, has been dated to the MiddleAges, but the exact origin is unknown. It may come from a custom in the lateRoman/early Christian era, wherein metal boxes placed outside churches wereused to collect special offerings tied to the Feast of Saint Stephen,[2] whichin the Western Church falls on the same day as Boxing Day.
In Britain, it was a custom for tradesmen to collect"Christmas boxes" of money or presents on the first weekday afterChristmas as thanks for good service throughout the year.[3] This is mentionedin Samuel Pepys’ diary entry for 19 December 1663.[4] This custom is linked toan older English tradition: Since they would have to wait on their masters onChristmas Day, the servants of the wealthy were allowed the next day to visittheir families. The employers would give each servant a box to take homecontaining gifts and bonuses, and sometimes leftover food.