Israelis' daily spending on credit cards increased by 10.1% in October, compared with NIS 1.136 billion in September

Israelis' daily spending on credit cards increased by 10.1% in October, compared with NIS 1.136 billion in September. This month also saw an increase in the volume of online purchases and cash withdrawals from ATMs, total expenses per month: NIS 35.2 billion, a jump of 35.9% compared to last year.
According to data from the Automated Banking Services Company, the combination of removing the restrictions and returning to routine after the Tishrei holidays, has led to an increase in the volume of credit card expenses in the past month. The daily expenditure on credit cards during October was NIS 1.136 billion, an increase of 10.14% compared to the daily expenditure in September, which was NIS 1.064 billion. In the calculation of the daily expenditure on credit cards in October 2021, the daily expenditure of Israelis on credit cards increased by about NIS 72 million.
According to the data, in October there were increases in expenses in transactions in businesses, in online transactions as well as in cash withdrawals from bank ATMs. The sharpest increase in expenses occurred in expenses in transactions without presentation of a card (online) which jumped in October by 17.37% compared to September, in October online transactions were made in a total amount of NIS 20.175 billion compared to NIS 17.190 billion in September. Transactions in businesses increased by 1.72%, with total expenses in October amounting to NIS 15.026 billion, compared with NIS 14.772 billion in September. In the volume of daily cash withdrawals from bank ATMs, the growth rate was 10.9%, in October the Israeli public withdrew cash in the amount of NIS 5.489 billion, compared with NIS 4.951 billion in September.
Israelis' spending on credit cards rose sharply last month by 35.94% in credit card spending compared with October 2020, during which the second closure of the Israeli economy took place due to the outbreak of the corona virus. During the past month, Israelis spent NIS 35.201 billion on credit cards, compared with NIS 25.894 billion in October 2020. In October 2019, the total amount of credit card expenses reached NIS 27,797 billion.
In addition, there was a 27.54% jump in credit card expenses in transactions without presenting a card (online), which amounted to NIS 20.175 billion, compared with NIS 15.818 billion in October 2020. In October 2019, total online purchases amounted to NIS 13.853 billion. Expenditure on transactions with the presentation of a credit card (purchases at the business itself) recorded a sharp increase of 49.13% in October compared to October last year, purchases in physical transactions amounted to NIS 15.026 billion in October 2021 compared to NIS 10.075 billion in October 2020. In October 2019 NIS billion.
Eitan Lev Tov, CEO of Automated Banking Services: "Data on business activity in the economy in October show that the Israeli economy recovered from the fourth wave of the corona and a return to routine after the Tishrei holidays in September boosted Israelis' spending."