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After the holidays: Record spending on credit cards

According to the ISA, the Israeli economy recovered from the fourth wave of the corona, and the combination of removing restrictions and returning to routine after the Tishrei holidays, led to an increase in credit card spending. An increase in October also in online purchases and cash withdrawals

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Monday, 08 November 2021, 08:49 Updated: 09:03

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Shebaa (Automatic Banking Services), the director of the national credit card payment system, publishes data on the use of credit cards and cash withdrawals, which show that the Israeli economy continues to strengthen. The

daily expenditure on credit cards during October was NIS 1.136 billion. an increase of 10.14% compared to September daily spending stood at a total of 1.064 billion. in calculating the credit card daily spending October 2021 Israeli daily spend of credit cards increased by approximately NIS 72 million.

the total spending in September: 35.2 billion, a jump of 35.9% compared to last year - although of course it must be taken into account that in October 2020, the Israeli economy operated under closure and other restrictions that reduced economic activity.

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Online Shopping: High Rise in October, Facing November's Online Sales Events (Photo: ShutterStock)

The biggest increase: in online transactions

ABS figures also showed that in October, spending increases were recorded in business transactions, the online transactions and cash withdrawals from bank ATMs banks.

The sharp increase in spending applies to most transactions expenses without presenting a card (on-line), which soared by 17.37% in October compared with September, October, online transactions were made In a total amount of NIS 20.175 billion compared to NIS 17.190 billion in September. This giver is especially interesting, when we are just before the big shopping

promotions of November. In September, the growth rate of daily cash withdrawals from bank ATMs was 10.9%, in October the Israeli public withdrew cash in the amount of NIS 5.489 billion, compared with NIS 4.951 billion in September.

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