Ahead of a Bank of Israel conference on “A Look at the Future World of Payments: Trends, the Market, and Regulation” being held today, the Bank carried out a survey[1] to examine the public’s preferences and usage patterns of the various means of payment. The survey was carried out via Internet among 600 respondents who make up a nationwide representative random sample of the adult population that is connected to the Internet. Following are the main findings:

1. How much cash do you carry in your wallet? Fifty-five percent responded with less than NIS 200; 26 percent said NIS 200–500, and 8 percent of the population carry NIS 500–1,000 in their wallet.

2. What is your preferred means of payment? Sixty-five percent responded that they prefer a credit card, 21 percent pay with cash, and 10 percent use a payment application.

3. With what means of payment do you transfer money to friends/building committee/tutor and so on? Forty-three percent responded via a payment application, 22 percent give cash, 20 percent use bank transfer, and 5 percent use credit card.

4. If the Bank of Israel will issue a digital shekel, will you use it? Thirty-four percent of the public think they would, and 51 percent are still not sure.

At the conference, senior financial executives from Israel and abroad and leaders in the payments sphere from around the world will present the trends in the world of payments, the market, and regulation. Participants will include the Governor of the Bank of Israel, the Governor of Sweden’s central bank, and senior executives from leading companies worldwide. The conference will be held at the International Convention Center in Jerusalem. The addresses at the conference will be put on the Bank of Israel Youtube page several days after the conference.

 

Link tothe Conference web page.


[1] The survey was conducted by the Rushinek Research Institute.​

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