GlobalData's
Payments
Landscape in Israel: Opportunities and Risks to 2021, report provides
detailed analysis of market trends in the Israeli cards and payments industry.
It provides values and volumes for a number of key performance indicators in
the industry, including payment cards, credit transfers, direct debit, and
cheques during the review-period (2013-17e).
The
report also analyzes various payment card markets operating in the industry and
provides detailed information on the number of cards in circulation,
transaction values and volumes during the review-period and over the
forecast-period (2017e-21f). It also offers information on the country's
competitive landscape, including market shares of issuers and schemes.
The
report brings together GlobalData's research, modeling, and analysis expertise
to allow banks and card issuers to identify segment dynamics and competitive
advantages. The report also covers detailed regulatory policies and recent
changes in regulatory structure.
This
report provides top-level market analysis, information and insights into the
Israeli cards and payments industry, including- Current and forecast values for
each market in the Israeli cards and payments industry, including debit,
credit, and charge cards.
Detailed
insights into payment instruments including credit transfers, direct debit,
payment cards, and cheques. It also, includes an overview of the country's key
alternative payment instruments. E-commerce market analysis.
Analysis
of various market drivers and regulations governing the Israeli cards and
payments industry. Detailed analysis of strategies adopted by banks and other
institutions to market debit, credit, and charge cards.
To
encourage card acceptance among merchants, the Bank of Israel has been cutting
interchange fee rates. It reduced the cap on debit card interchange fees from
0.7% to 0.3% effective from April 2016. In January 2018 it confirmed future
rate reductions. The debit card interchange fee will be reduced in a phased
manner to reach 0.25% by 2023, while charge card interchange fees will be
reduced from 0.7% to 0.5% by 2023.
To
promote credit cards and bring more competition and investment into the market,
Strum Law was passed in January 2017. The law obligates the country's two
largest banks, Bank Leumi and Bank Hapoalim, to divest their credit card
businesses, Leumi Card and Isracard respectively, by the end of January 2020.
The law also prohibits domestic banks and non-bank companies from purchasing
the divested card businesses, thus paving the way for foreign companies to
enter the Israeli pay-later market.
In
order to reduce cash dependency in the country, the Israeli government is
imposing restrictions on cash transactions between both individuals and
businesses. Effective from January 2019, cash transactions will be restricted
to ILS11,000 (USD3,159.10) for business deals and ILS50,000 (USD14,359.57)
between individuals. The government plans to reduce the limit to ILS6,000
(USD1,723.15) for businesses and ILS15,000 (USD4,307.87) for individuals by
2020. The Bank of Israel will also impose restrictions on cheques to ILS10,000
(USD2,871.91) effective from July 2019.
To know more, click on the link below:
Related Reports:
Contact Us:
Ken
Research
Ankur
Gupta, Head Marketing & Communications
0124-4230204
No comments:
Post a Comment