Israel Credit Cards Market Size (2024 - 2029)

The Israel Credit Cards Market is anticipated to experience significant growth in transaction value over the forecast period. Credit cards are extensively utilized across various transaction types, including retail purchases, online shopping, and bill payments, with widespread acceptance among businesses and service providers. The market is governed by regulations from the Bank of Israel, ensuring consumer protection and fair practices. Credit card issuers enhance the market's appeal by offering a range of rewards and benefits, such as cashback, travel rewards, and loyalty points, which encourage usage. Additionally, foreign-issued credit cards are commonly accepted, providing convenience for international visitors.

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Market Size of Israel Credit Cards Industry

Israel Credit Cards Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 142.44 Billion
Market Size (2029) USD 215.04 Billion
CAGR (2024 - 2029) 8.59 %
Market Concentration Medium

Major Players

Israel Credit Cards Market Major Players

*Disclaimer: Major Players sorted in no particular order

Israel Credit Cards Market Analysis

The Israel Credit Cards Market size in terms of transaction value is expected to grow from USD 142.44 billion in 2024 to USD 215.04 billion by 2029, at a CAGR of 8.59% during the forecast period (2024-2029).

Credit cards are widely accepted in Israel and can be used for various types of transactions, including in-person purchases at retail stores, online shopping, and bill payments. Most businesses and service providers, including restaurants, hotels, and retailers, accept credit card payments. The credit card market in Israel is regulated by the Bank of Israel, which sets guidelines and regulations to ensure fair practices and consumer protection. The regulations cover interest rates, fees, credit limits, and disclosure requirements.

Credit card issuers in Israel often offer various rewards and benefits to cardholders. These can include cashback programs, travel rewards, discounts on purchases, airline miles, loyalty points, and exclusive offers. These rewards and benefits can add value to cardholders' spending and incentivize credit card usage. Different from the U.S., contesting a credit card charge in Israel is virtually only possible if someone charged your credit card without authorization. It is advisable, therefore, not to get rid of your foreign-issued credit card that fast. Nearly all merchants accept foreign-issued MasterCard and Visa cards (and sometimes American Express credit cards) in Israel.

Israel Credit Cards Industry Segmentation

 Credit cards provide individuals with a revolving line of credit, allowing them to make purchases and pay them off over time. This flexibility can help manage cash flow, make larger purchases, or handle unexpected expenses. Responsible credit card usage and timely repayment can help build a positive credit history, which is important for future borrowing and financial opportunities. 

The Israel credit cards market is segmented by card type, application, and provider. By card type, the market is sub-segmented into general-purpose credit cards and specialty & other credit cards. By application, the market is sub-segmented into food & groceries, health & pharmacy, restaurants & bars, consumer electronics, media & entertainment, travel & tourism, and others. By provider, the market is sub-segmented into visa, mastercard, and others. The report offers market size and forecasts for the Israel credit cards market in value (USD) for all the above segments.

By Card Type
General Purpose Credit Cards
Specialty & Other Credit Cards
By Application
Food & Groceries
Health & Pharmacy
Restaurants & Bars
Consumer Electronics
Media & Entertainment
Travel & Tourism
Other Applications
By Provider
Visa
MasterCard
Other Providers
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Israel Credit Cards Market Size Summary

The credit card market in Israel is characterized by a high penetration rate, with a substantial portion of the population utilizing credit cards for various financial transactions. This widespread acceptance is facilitated by the regulatory framework set by the Bank of Israel, which ensures fair practices and consumer protection. Credit cards in Israel are used for in-person purchases, online shopping, and bill payments, with most businesses, including restaurants, hotels, and retailers, accepting them. The market is competitive, featuring a mix of domestic and international players such as Isracard, Leumi Bank, CAL (Israel Credit Cards Ltd.), American Express, and Israel Discount Bank. These institutions offer a range of credit cards with diverse rewards and benefits, including cashback programs, travel rewards, and loyalty points, which enhance the value proposition for cardholders and encourage usage.

Visa plays a significant role in the Israeli credit card market, promoting financial inclusion and providing valuable services for international travelers. The company's cards are widely accepted and offer advanced security features like EMV chip technology and tokenization to protect against fraud. The competitive landscape is driven by factors such as interest rates, fees, rewards programs, and customer service, with providers continuously introducing new offerings and promotional campaigns. The market's growth is supported by the increasing purchasing power of consumers, which stimulates economic activity and benefits businesses through increased sales and revenue. Recent developments, such as the strategic agreement between Bank Leumi and CAL for issuing and operating credit cards, highlight the dynamic nature of the market and the ongoing efforts to enhance service offerings.

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Israel Credit Cards Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Usage of Credit Card Give the Bonus and Reward Points

    3. 1.3 Market Restraints

      1. 1.3.1 Interest Rates on Credit Card

    4. 1.4 Insights on Various Regulatory Trends Shaping the Market

    5. 1.5 Insights on Impact of Technology in the Market

    6. 1.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.6.1 Bargaining Power of Buyers

      2. 1.6.2 Bargaining Power of Suppliers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitutes

      5. 1.6.5 Intensity of Competitive Rivalry

    7. 1.7 Impact of High Inflation on Credit Card Market

    8. 1.8 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Card Type

      1. 2.1.1 General Purpose Credit Cards

      2. 2.1.2 Specialty & Other Credit Cards

    2. 2.2 By Application

      1. 2.2.1 Food & Groceries

      2. 2.2.2 Health & Pharmacy

      3. 2.2.3 Restaurants & Bars

      4. 2.2.4 Consumer Electronics

      5. 2.2.5 Media & Entertainment

      6. 2.2.6 Travel & Tourism

      7. 2.2.7 Other Applications

    3. 2.3 By Provider

      1. 2.3.1 Visa

      2. 2.3.2 MasterCard

      3. 2.3.3 Other Providers

Israel Credit Cards Market Size FAQs

The Israel Credit Cards Market size is expected to reach USD 142.44 billion in 2024 and grow at a CAGR of 8.59% to reach USD 215.04 billion by 2029.

In 2024, the Israel Credit Cards Market size is expected to reach USD 142.44 billion.

Israel Credit Cards Market Report Snapshots

Israel Credit Cards Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)