Recovering: Israelis' spending on credit cards jumped 15% in August | Israel today

Israelis' spending on credit cards continued to rise in August.

According to data from the Shebaa (Automatic Banking Services) Company, which manages the national credit card payment system, the Israeli public continued to break new records in credit card expenses last August, compared with the corresponding month last year.

The increase was recorded both in expenses on credit cards in businesses, both in online purchases (without presenting a card) and in cash withdrawals from bank ATMs, where a moderate increase was recorded.

Israelis' daily spending on credit cards in August amounted to NIS 1.191 billion, an increase of 1.6% compared to the previous month.

Total expenses for the month amounted to NIS 36.9 billion, an increase of 15.2% compared to last year.

The increase in cash withdrawals from ATMs was moderate and amounted to 8.6%.

This is an increase in credit card purchases at a rate of 15.16% compared to the corresponding month last year.

In calculating the daily expenditure on credit cards, August broke the daily expenditure record recorded in the previous month, and the expenses of Israelis on credit cards increased by NIS 20 million and stood at a daily average of NIS 1.191 billion.

This is a 1.6% increase in daily spending on credit cards compared to July 2021, when daily spending was NIS 1.172 billion.

During August 2021, Israelis spent a total of NIS 36.917 billion on credit cards, compared with NIS 32.058 billion in August 2020. In August 2019, the total amount of expenses on credit cards reached NIS 29.010 billion.