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The credit celebration: Israelis broke record purchases in March Israel today

2022-04-12T19:41:49.968Z


Waste in the amount of more than NIS 37 billion in March • The data show: an increase in online and a decrease in physical transactions


Record of spending by the Israeli public on credit cards.

In March, credit card expenses amounted to more than NIS 37.28 billion, an increase of 5.5% compared to March last year.

Purchases in online transactions also set a new record in March and amounted to NIS 21.92 billion.

This is according to data from the Shebaa Company, Automatic Banking Services, the director of the national credit card payment system.

The data indicate that the Israeli economy continues to strengthen and flourish.

The volume of expenses of March 2022 was 17.3% higher than the total expenses of February 2022. In a monthly calculation, March 2022 surpassed the previous monthly expenditure record, in August 2021, by NIS 370 million.

The average daily expenditure in March 2022 was NIS 1.203 billion, a figure that is 0.02% lower than the highest daily expenditure average recorded in November 2021 and was NIS 1.205 billion.

Increasing consumption of online credit, Photo: GettyImages

Expenditure on online transactions, as stated, also set a new record in March 2022. The amount of monthly expenditure on online transactions reached a total of NIS 21.922 billion.

This is a high figure at a rate of 13.7% compared to the volume of expenses in online transactions in March 2021, which stood at NIS 19.278 billion.

This is a figure 2.9% higher than the previous monthly expenditure in online transactions, which in November 2021 was NIS 21.297 billion.

The average daily expenses in online transactions reached NIS 707,154 million in March 2022, a figure that is 0.04% lower than the daily average in November 2021, which was NIS 709,896 million.

The amount of expenses in physical transactions in March 2022 decreased by 4.3% compared to March last year.

The decline is due to a number of reasons, including the fact that last year Passover already took place during March, the security situation in Israel and the attacks that took place in major cities as well as the funeral of the late Rabbi Chaim Kanievsky, which affected customer traffic to malls and malls during the last month. March 1522 at NIS 15.364 billion compared to NIS 16.063 billion in March last year. The average daily expenditure on physical transactions was NIS 495.616 million in March. This is 8% lower than the peak figure recorded in August 2021 and was NIS 538,986 million.

The wave of terrorism affected: a decrease in physical consumption, Photo: Gideon Markowitz

A low increase of only 2.7% was recorded in February 2022 in the volume of cash withdrawals from ATMs.

The average daily withdrawal amount was NIS 178,234 million, compared to an average daily withdrawal volume of NIS 173.517 million in March 2021.

The total amount of cash withdrawals from ATMs was NIS 5.525 billion in March 2022, a figure of 6.2% lower than in August 2021, during which the amount of withdrawals from ATMs was NIS 5.898 billion.

According to Eitan Lev Tov, CEO of the Shebaa Company: "The Israeli economy is showing strength and growth and this can be seen in the high expenses of the Israeli public with credit cards.

The peak data recorded in March indicate the resilience of the economy and the adaptation of businesses to events with different characteristics.

"The volume of online purchases was particularly high and compensated for the fact that during the month we dealt with various events that affected the movement of consumers to the shopping centers and malls."

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Source: israelhayom

All news articles on 2022-04-12

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