As of July 2022, the most widely used payment method in Israel was cash, with almost 95 percent of respondents reporting they used it in the past year. It was followed by credit cards, which were used by nearly 92 percent of people. Lastly, the study found that bank transfers were used by almost 74 percent, and 70 percent of respondents used payment apps.
'Which payment methods are you familiar with and have used in the past year?' share of respondents in Israel in July 2022
Participants were asked to indicate how they would prefer to use payment methods in various scenarios—such as payment recipients, as payers, in different payment situations, for specific payment amounts, and so on. Respondents are a representative sample of the population aged 18-74 who are connected to the internet.
'Payment app' refers to a mobile application that facilitates financial transactions as an intermediary, with some apps offering wallet-like features to store money temporarily.
'Digital wallet' refers to an online platform that replicates the functionality of a physical wallet, enabling users to store funds for future use and, in some cases, keep digital versions of items like tickets, licenses, or passes.
'Instant debit card' refers to a payment card that allows for instant access to funds for purchases or withdrawals, deducting the amount directly from the account balance at the time of the transaction.
'Prepaid card' refers to a payment card loaded with a specific amount of money in advance, not linked directly to a bank account. Users can use it to make purchases or withdraw cash until the balance is depleted.
'ZAHAV transfer' refers to the RTGS electronic payment system in Israel, specifically designed for transferring funds between banks.
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Bank of Israel. (January 9, 2024). 'Which payment methods are you familiar with and have used in the past year?' share of respondents in Israel in July 2022 [Graph]. In Statista. Retrieved December 04, 2024, from https://www.statista.com/statistics/1537858/israel-payment-methods-by-usage-share/
Bank of Israel. "'Which payment methods are you familiar with and have used in the past year?' share of respondents in Israel in July 2022." Chart. January 9, 2024. Statista. Accessed December 04, 2024. https://www.statista.com/statistics/1537858/israel-payment-methods-by-usage-share/
Bank of Israel. (2024). 'Which payment methods are you familiar with and have used in the past year?' share of respondents in Israel in July 2022. Statista. Statista Inc.. Accessed: December 04, 2024. https://www.statista.com/statistics/1537858/israel-payment-methods-by-usage-share/
Bank of Israel. "'which Payment Methods Are You Familiar with and Have Used in The past Year?' Share of Respondents in Israel in July 2022." Statista, Statista Inc., 9 Jan 2024, https://www.statista.com/statistics/1537858/israel-payment-methods-by-usage-share/
Bank of Israel, 'Which payment methods are you familiar with and have used in the past year?' share of respondents in Israel in July 2022 Statista, https://www.statista.com/statistics/1537858/israel-payment-methods-by-usage-share/ (last visited December 04, 2024)
'Which payment methods are you familiar with and have used in the past year?' share of respondents in Israel in July 2022 [Graph], Bank of Israel, January 9, 2024. [Online]. Available: https://www.statista.com/statistics/1537858/israel-payment-methods-by-usage-share/
