More credit expenses, more online transactions: How did we pay in 2021?

Last year, credit cards became the preferred means of payment for Israelis.

Credit card expenses in 2021: more than NIS 401.6 billion - an increase of more than NIS 55.2 billion compared to 2020. There was also a significant increase in online transactions, according to data from the ISA

Walla!

Of money

04/01/2022

Tuesday, 04 January 2022, 09:05 Updated: 09:50

• Share on Facebook

• Share on WhatsApp

• Share on Twitter

• Share on Email

• Share on general

• Comments

  Comments

Published ISA (automatic banking services) data reveal that credit cards became the preferred means of payment for Israelis in 2021. Israelis' spending on credit cards in 2021 amounted to more than NIS 401.6 billion, which represents an increase of more than NIS 55.2 billion compared to 2020.

Total expenses of Israeli credit cards in December, totaled $ 34.9 billion, an increase of 9.8% compared to last year.

also the data reveal a decline of 4.7% in December, the volume of daily cash withdrawals from ATMs bank compared to November.

spending credit cards daily December stood at 1.126 billion NIS, a decrease of 6.56% compared to November 2021 when the daily expenditure reached a record figure of NIS 1.205 billion.

Good to know (promoted)

Special offer for Walla surfers on the best mattresses in the world

Served on behalf of Dr. Comfort

Credit cards: pay more, show less - mainly due to the large number of online transactions and the penetration of digital wallets (Photo: ShutterStock)

The online is getting stronger

On an annual basis, the expenses of the Israeli public in credit cards grew in 2021 by a sharp rate of 15.96% compared to 2020, during which expenses in credit reached a total of NIS 346.348 billion.

Data on the summary of Israelis' spending on credit cards show that

.

Expenditures on physical purchases at the business increased in the past year by 15.56% and amounted to a total of NIS 172.715 billion in 2021, compared with NIS 149.464 billion in 2020.

In the area of ​​cash withdrawals from ATMs, there was smaller growth on an annual basis and they increased by 13.5% to a total of NIS 62.086 billion, compared to NIS 54.699 billion in 2020.

Digital wallet, Google Pay's entry into the payments market is noticeable (Photo: ShutterStock)

The digital wallet shows presence

In December 2021, there were increases in expenses in business transactions and online transactions. Cash withdrawals from ATMs actually decreased compared to the previous month.

The sharpest increase in December was recorded in expenses in physical transactions, which are made in the businesses themselves using credit cards and digital wallets, and they jumped last month by 10.65% compared to December last year. The volume of purchases in physical transactions was NIS 15.17 billion in December, compared with NIS 13.71 billion in December 2020.

The volume of daily physical purchases in December was NIS 489.28 million, a decrease of 1.1% compared to November 2021 when the daily expenses in physical transactions were NIS 494.7 million. (Online) rose in December by 9.07% compared to December 2020.

In December, online transactions totaled NIS 19.747 billion, compared with NIS 18.105 billion in December 2020. The volume of daily purchases online decreased by 10.3% compared to November and stood at NIS 636.896 million compared to NIS 709.896 million last November, perhaps due to the fact that the shopping days ( Chinese singles, Black Friday and more) that caused increased spending on credit cards in stores and online transactions.

Second consecutive month of declining cash withdrawals (Photo: ShutterStock)

Less cash

The volume of daily cash withdrawals from ATMs decreased for the second month in a row, in December 2021 there was a decrease of 4.7% compared to November 2021. In December, cash withdrawals from ATMs amounted to NIS 5.268 billion compared to NIS 5.350 billion in November.

Compared to December 2020, there was a 5.72% increase in the volume of cash withdrawals, which amounted to NIS 4.983 billion, but in this context it should be mentioned that December last year, with the start of the vaccination campaign, was marked by severe corona restrictions.

: "We summarize the year 2021, during which the expenses of the Israeli public in credit cards continued to grow significantly. "The safest and most accessible to use. The data indicate that expenses through the credit card have grown more dominantly than other means of payment in Israel."

• Of money

• consumption

Tags

• Cash

• credit

• credit cards

• Online

• Online shopping

• ISA