The Limited Times

Now you can see non-English news...

Despite the slowdown: how much more did we spend on credit cards in 2022? - Walla! Of money


Israelis' spending on credit cards in 2022 amounted to more than NIS 440.8 billion - an increase of about NIS 40 billion and 9.8% compared to 2021

Decrease in private consumption?

Credit expenses actually increased far beyond the growth in the economy (Photo: ShutterStock)

Despite the noticeable slowdown in the economy that brings with it a decrease in private consumption, it turns out that in regards to the use of credit cards, 2022 was a record year.

According to the data of


(Automated Bank Services), the manager of the national credit card payment system, the trend of an increase in the spending of the Israeli public on credit cards continued in December 2022, and they amounted to NIS 37.458 billion, a figure that represents an increase of 7.29% compared to spending on credit cards in December 2021 which amounted to NIS 34.914 billion.

The daily spending on credit cards in December stood at NIS 1.208 billion, a decrease of 8% compared to November 2022 when the daily spending reached a record figure of NIS 1.313 billion.

In an annual perspective, the Israeli public's spending on credit cards grew in 2022 at a sharp rate of 9.8% compared to 2021, during which spending on credit reached a total of NIS 401.612 billion.

VP of Sheba, Tali Hollenberg (Photo: Reot Ashkenazi)

Spending in online transactions is higher than spending in stores

From the summary data of Israelis' spending on credit cards, it appears that purchases in transactions without presenting a card (online) increased by 10.64% and amounted to a total of 253.248 billion shekels in 2022 compared to 228.896 billion shekels in 2021.

Expenditures for physical purchases at the business increased last year by 8.64% and amounted to a total amount of NIS 187.631 billion in 2022 compared to NIS 172.715 billion in 2021.

In the field of cash withdrawals from bank ATMs, there was a smaller growth in an annual perspective and they increased by 3.77% to a total amount of NIS 64.425 billion compared to NIS 62.086 billion in 2021.

It also emerges from the Shaba data that in December 2022 there were increases in expenses in transactions in the businesses and in online transactions. The sharpest increase in December was recorded in expenses in online transactions which jumped last month at a rate of 7.46% compared to December last year.

Purchases in online transactions totaled NIS 21.221 billion compared to an amount of NIS 19.747 billion in December 2021. The average daily spending in online transactions was NIS 684.506 million in December, a decrease of 12% compared to the record recorded in November 2022 and was NIS 778.117 million.

The volume of purchases in physical transactions, carried out in the businesses themselves using credit cards and digital wallets, increased by 7.06% and stood at NIS 16.239 billion in December compared to NIS 15.168 billion in December 2021.

The average daily expenditure in physical transactions in December was NIS 523.827 million, a decrease of 2.1% compared to November 2022, when the amount of daily expenses in physical transactions was NIS 534.836 million,

the volume of daily cash withdrawals from bank ATMs increased in December 2022 at a rate of 1.74% compared to December 2021. In December, cash withdrawals from ATMs totaled NIS 5.361 billion compared to NIS 5.268 billion in December.

VP of Sheba, Tali Hollenberg

: "We conclude the year 2022, during which the spending of the Israeli public on credit cards continued to grow significantly.

The growth in activity and spending on credit cards is significantly higher than the growth of the economy and this figure proves that the credit card, and advanced means of payment such as digital wallets, continue to be the fastest growing, most common, accessible and convenient means of payment for the Israeli public."

  • Of money

  • our money


  • credit cards

  • Shaba

  • expenses

  • Online shopping

Source: walla

All business articles on 2023-01-08

You may like

Trends 24h

Business 2023-03-29T05:16:08.312Z
Business 2023-03-29T07:00:54.454Z


© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.