The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
Learn moreEuromonitor addresses your unique questions and challenges across all B2B and B2C industries and geographies through custom, tailor-made research projects, designed to your specific goals.
Learn moreDec 2020
US$2,100Added to Cart
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
The COVID-19 pandemic had a major impact on Israel’s financial cards and payments industry during 2020. While the overall effects of the economic uncertainty that emerged quickly during the early stages of the pandemic situation and the adverse economic situation that have developed over the course of the year have been generally negative in terms of suppressing consumer demand and substantially reducing spending, some interesting trends have emerged from the situation that have mitigated the negative impacts of the pandemic.
Israel’s first case of the COVID-19 virus was confirmed on 21 February, when a female citizen tested positive after returning from quarantine on the Diamond Princess cruise ship, berthed in Japan. This led to a 14-day home isolation being imposed anyone who had visited South Korea or Japan and a ban was placed on non-residents and non-citizens who were in South Korea during the 14 immediately preceding their arrival in Israel.
The COVID-19 pandemic resulted in Israel’s economy sliding into recession over the course of 2020. This was accompanied by a substantial decline in consumer confidence as the employment rate rose dramatically from 3% to 25%, while many people were temporarily laid off and/or required to go part-time.
One very interesting feature of Israel’s financial cards and payments industry is that debit cards is a far smaller category than either charge cards or credit cards. Indeed, charge cards rivals credit cards for leading position in terms of cards in circulation, with debit cards very far behind either of these categories.
During 2020, a new payment card was launched in Israel with the potential to revolutionise the way in which Israeli consumers manage their money. The Combo Card is essentially a hybrid financial card which offers the cardholder the option to choose whether they would like the transaction to be completed via an instant direct debit from their current account, or whether they want the transaction to be paid for from their charge card account.
Although it scarcely needs to be stated that the performance of Israel’s financial cards and payments industry will depend largely on the pace of the recovery of Israel’s economy from the negative impact of the COVID-19 situation, the reality is that the country’s economy has proven fragile under the pressures created by the COVID-19 pandemic and the official response to it. Nevertheless, once the threat of widespread contagion has passed, whether due to effective management of the spread of the COVID-19 virus or via widespread vaccination among the country’s population, the situation can be expected to improve immediately and robustly.
Files are delivered directly into your account within a few minutes of purchase.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Delivery: Files are delivered directly into your account within a few minutes of purchase.
Overview
Discover the latest market trends and uncover sources of future market growth for the Financial Cards and Payments industry in Israel with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Financial Cards and Payments industry in Israel, our research will save you time and money while empowering you to make informed, profitable decisions.
The Financial Cards and Payments in Israel market research report includes:
Our market research reports answer questions such as:
Why buy this report?
Euromonitor’s industry reports, including Financial Cards and Payments in Israel, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.