Despite the war, Israelis spending on digital wallets is growing

• Published date: 02 April 2024
• Author: LEE SIVILIA
• Publication title: Jerusalem Post, The: Web Edition Articles (Israel)

This is an increase of more than NIS 2.1 billion and of 87.3% in expenses in digital wallets compared to February 2023 when the total expenses were NIS 2.451 billion. Sheba publishes the data on spending on digital wallets in Israel for the first time since the beginning of the "Iron Swords" war on October 7, 2023. For the first time, since digital wallets began operating in Israel more than two and a half years ago, in the month of October 2023, there was a decrease in the data on the use of wallets

This month saw a decrease of 9.2% compared to the figures for spending through digital wallets in September 2023. In October spending in digital wallets reached the amount of NIS 3.457 billion (daily average of NIS 111.534 million) compared to NIS 3.808 billion in September 2023 (daily average of NIS 126.945 million).

In the month of November, the amount of spending in digital wallets reached NIS 3.912 billion (daily average of NIS 130.395 million ), in December 2023 the amount was NIS 4.528 billion (daily average of NIS 146.071 million ), in January 2024 the amount of spending reached NIS 4.571 billion (average daily expenses of NIS 147.459 million).

The scope of spending through digital wallets during the month of February 2024 accounted for 27.8% of the total spending of the Israeli public in physical transactions during the month. The scope of expenses in physical transactions was NIS 16.537 billion in February. The total expenses in digital wallets in February constitute 11.9% of the total expenses in credit cards during the month. The increase in the amount of daily expenses using digital wallets in February compared to January 2024 amounted to 7.3%. In February, the average daily...