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Do not stop: Israeli record in credit card spending

According to Shaba data, our credit card expenses continue to break records: total expenses in July were NIS 36.3 billion, an increase of 16.5% compared to July 2020, the first month of "between closures" activity. Online transactions also continue to rise: NIS 20.4 billion

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Sunday, 08 August 2021, 10:19 Updated: 10:36

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Last July was marked by a massive opening of the economy, a move that began in June and was finally interrupted with the full closure imposed on September 18, 2020, on the eve of Rosh Hashanah.

In any case, last July, after the then prime minister called "Make a living," he was considered one of the most successful last year.

However, an examination of Israelis' spending on credit cards reveals a dramatic increase in spending compared to the corresponding month last year.

Company data * ABS (Automated Banking Services), Director of the national payment system credit card, indicate new records expenditure committed by Israeli credit cards.

Even banking bank ATMs cash withdrawals recorded in the past month increase, but it is rising more slowly than in credit card operations.

Total Expenditure in July amounted to NIS 36.3 billion, an increase of 16.5% compared to July 2020, the first month of "between closures" activity.

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The trend of increasing purchases of online credit cards continues (Photo: ShutterStock)

A new Israeli record

In July 2021, Israelis 'spending on credit cards increased by 16.55% in credit card expenses compared to July 2020.

In the calculation of daily spending on credit cards, July 2021 broke the daily spending record recorded in the previous month and Israelis' spending on credit cards averaged NIS 1.172 billion. This is a 1.17% increase in the daily expenditure on credit cards compared to June 2021, when the daily expenditure was NIS 1.158 billion.

In addition, the trend of increasing spending on online transactions continues: Israelis spent NIS 20.4 billion on online purchases and other online transactions, which indicates a continued strengthening of the trend of switching to online payments.

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