Digital direct credits, over the ZAHAV wiring system in Israel, accounted for 57 percent of the value of funds transferred in Israel in 2022. Direct MASAV credits accounted for almost 27 percent of total payments. On the other hand, the value of cash withdrawals amounted to below one percent of payments in the country. Interestingly, while ZAHAV direct credits accounted for over half the value of payments, they made up only 0.07 percent of the total volume of transactions in the country.
Share of total value of payments in Israel in 2022, by method of payment
'Direct ZAHAV credit', refers to digital payments that are made by automated means, the ZAHAV system, Israel's real-time gross settlement system (RGTS).
'Direct MASAV credit' refers to credits that are initiated by the debited party over the MASAV system, Israel's automated clearing house (ACH).
'Direct MASAV debit' refers to credits that are executed only through the Debits Credits and Transfers system, and are initiated by the beneficiary. They are conducted over the MASAV system, Israel's automated clearing house (ACH).
'Payment cards' are typically issued by a bank or credit card company according to a contract with the cardholder. This category also includes loyalty club cards, gift cards, prepaid cards and other forms of payment cards.
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Bank of Israel. (August 11, 2024). Share of total value of payments in Israel in 2022, by method of payment [Graph]. In Statista. Retrieved December 04, 2024, from https://www.statista.com/statistics/1535984/israel-share-of-total-payments-value-by-method/
Bank of Israel. "Share of total value of payments in Israel in 2022, by method of payment." Chart. August 11, 2024. Statista. Accessed December 04, 2024. https://www.statista.com/statistics/1535984/israel-share-of-total-payments-value-by-method/
Bank of Israel. (2024). Share of total value of payments in Israel in 2022, by method of payment. Statista. Statista Inc.. Accessed: December 04, 2024. https://www.statista.com/statistics/1535984/israel-share-of-total-payments-value-by-method/
Bank of Israel. "Share of Total Value of Payments in Israel in 2022, by Method of Payment." Statista, Statista Inc., 11 Aug 2024, https://www.statista.com/statistics/1535984/israel-share-of-total-payments-value-by-method/
Bank of Israel, Share of total value of payments in Israel in 2022, by method of payment Statista, https://www.statista.com/statistics/1535984/israel-share-of-total-payments-value-by-method/ (last visited December 04, 2024)
Share of total value of payments in Israel in 2022, by method of payment [Graph], Bank of Israel, August 11, 2024. [Online]. Available: https://www.statista.com/statistics/1535984/israel-share-of-total-payments-value-by-method/
