Spenders:
SBA (Automated Bank Services Ltd.) data indicate a sharp jump in credit card activity during the month of September 2022. During the period in question, credit transactions reached a total amount of more than NIS 38.811 billion.
This is an increase of 21.4% compared to September 2021, during which expenses totaling only 31.961 billion shekels were recorded.
In September 2020, during the second lockdown, there were restrictions on economic activity due to the corona virus.
Spending on credit cards amounted to NIS 30.184 billion.
In September 2019, the total expenses reached NIS 30.378 billion.
Credit cards (illustration), photo: Ami Shoman
Daily purchase record (Olostratation), photo: GettyImages
Breaking records
According to the data, it seems that the average amount of daily expenses also increased significantly and in September 2022 reached a new record, which was NIS 1.294 billion.
This is a figure that represents a 2.9% increase compared to August 2022, when the average daily amount of expenses reached NIS 1.257 billion.
The average daily expenses increased by about NIS 40 million.
In September 2021, the average daily amount of expenses amounted to only NIS 1.065 billion.
Spending in online transactions registered a sharp jump of 30.6% in September 2022 compared to September last year.
The monthly spending in online transactions reached a new record in September and a total amount of NIS 22.447 billion.
In September 2021, the amount of expenses in online transactions reached NIS 17.191 billion.
The amount of daily spending in online transactions in September was 748.246, a figure that represents an increase of 6.5% and about 46 million shekels in the average daily amount of spending online compared to August 2022, when the amount was 702.297 million shekels.
Online buyers, photo: Getty Images
Increase in credit transactions (illustration), photo: GettyImages
"Increasing expenses for the holidays"
The expenses in physical transactions in the businesses themselves, grew in September at a rate of 10.8% compared to last year.
The amount of expenses in physical transactions was 16.364 billion shekels in September 2022, compared to a total amount of expenses in physical transactions of 14.772 billion shekels in September 2021. The average daily expenses in physical transactions in September was 545.448 million shekels, a decrease of 1.7% compared to August 2022, in which The average daily amount of expenses in physical transactions was NIS 555.042 million.
In contrast, there was a 2.2% decrease recorded in September 2022 in the daily average of cash withdrawals at bank ATMs compared to August.
The average daily withdrawal amount in September was NIS 189.475 million compared to NIS 193.779 million in August 2022. In September 2022, Israelis withdrew a total of NIS 5.684 billion from bank ATMs.
This is a figure that represents an increase of 14.8% compared to September 2021, in which the volume of cash withdrawals from bank ATMs reached an amount of NIS 4.951 billion.
According to Ronit Tishler Pitti, VP of Operations and Partner Relations at Sheba: "In the days before Rosh Hashanah, we saw how the Israeli public increases the use and scope of spending on credit cards as part of its preparation for the Tishrei holidays. Online transaction purchases continue to grow significantly and this is part of their consumption habits The new ones that the public adopted during the Corona crisis period. During the busy hours of activity on Rosh Hashanah Eve, the Sheba systems recorded activity of over 16,000 credit transactions per minute.
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