Israel Payment Landscape Market Research Report-Ken Research

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Government Regulations Encourage Competition In
The Payment Industry Of Israel Ken Research
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The report Payment Landscape In Israel
Opportunities and Threats 2021 gives a detailed
insight about the payment industry in Israel. The
report extensively talks about current and
forecast values for each market in the Israeli
cards and payments industry, including debit and
credit cards. The report also includes detailed
insights into payment instruments including
credit transfers, cards, cheques and direct
debit. It also, includes an overview of the
country's key alternative payment instruments.
Various government regulations and market drivers
of the cards and payment industry are discussed.
Different strategies used to market debit and
credit cards by the Israeli banks and institutes
are analysed. The top market players in the
payment industry of Israel include Isracard, ICC
CAL, Leumi Card, Imagen, TBI Credit, PayPal,
Neema, Visa, Mastercard, Diners Club and American
Express. Israel is a Middle- East country.
Though the country is small by area, it has a
rich geographical diversity. It is a developed
country and the 32nd largest economy in the
world. The country has one of the highest
literacy rates in the world and had one of the
highest life expectancies in the world. Global
payments revenue has been increasing in
multi-fold despite many disruptions in the
market. As customers have become more and more
comfortable with swiping cards and paying through
mobile phones, the digitalisation of transaction
industry is also expected to give way to its
infrastructural development. In Israel, the
government has been proactively propagating the
use of digital payments and transaction and thus
imposing restrictions on cash transactions on
businesses and consumers.
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In Israel, internet retailing is growing in a
strong rate due to increased standards of living
and it accounts for the highest number of
packages per capita among the OCED countries.
Studies show the growth of card market strong
post 2017 due to peoples preferences of cards
over cash. To encourage card payments, the Bank
of Israel has been incentivizing the merchants by
cutting the interchange fee rates over the past
three years and is further expected to be cut
down to boost card payments. As the credit card
market is concerned, as a cue to encourage
competition, the government has instructed in
divestment of credit cards of the top two banks
in Israel by 2020. This is expected to bring
more international players in the market. To
reduce the cash dependency, the government is set
to impose caps on cash transactions and
restrictions on cheques, with effect from 2019.
The trends show the countrys increased flow of
foreign capital and investment mainly supported
by government regulations and laws. To know
more, click on the link below- https//www.kenres
earch.com/banking-financial-services-and-insurance
/financial-services/payments-landscape-israel-oppo
rtunities/150792-93.html
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