In 2021, Israelis spent NIS 401.6 billion on credit cards, according to data from Sheba (Automatic Banking Services), the National Credit Payments Administration, published today (Tuesday). These data show that there was an increase of almost 16% compared to credit expenses in 2020.
In December 2021, total expenditure amounted to NIS 34.9 billion, an increase of 9.8% compared to December last year. In contrast, there was a decrease of 4.7% last December in the volume of daily cash withdrawals at ATMs compared to November 2021.
In addition, data from Visa Cal publishes similar data on credit activity on its behalf, but claims that “in 2021 there was a decrease of 1.1% in the average transaction, which was NIS 222.”
Eitan Lev Tov, CEO of the ISA, says: “We summarize the year 2021, during which the expenses of the Israeli public in credit cards continued to grow significantly. Against the backdrop of the corona crisis that brought with it closures, and restrictions on economic activity, the credit card has become the most convenient, secure and accessible means of payment to use. The data indicate that expenses through the credit card have grown more dominantly than other means of payment in Israel. “
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