Israel Cards and Payments – Opportunities and Risks to 2027

Israel Cards and Payments Market Overview

The annual value of card transactions in the Israel cards and payments market is estimated to be $149.5 billion in 2023 and is expected to grow at a CAGR of more than 9% during 2023-2027. Israel is one of the most developed and unique payment card markets in the Middle East and Africa. The country is a prolific user of payment cards and the market is unique since it was developed as a deferred payment market, unlike debit and credit card markets elsewhere in the world. Charge cards account for a major proportion of total payment card transaction value. The government has launched various initiatives to promote the adoption of electronic payments in the country.

Israel Card Transactions Outlook, 2023-2027 ($ Billion)

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The Israel cards and payments market research report provides a detailed analysis of market trends in the Israeli cards and payments industry. It provides values and volumes for several key performance indicators in the industry, including cards, credit transfers, direct debits, and cheques during the review period. 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. It also offers information on the country’s competitive landscape, including market shares of issuers and schemes. The report also covers details of regulatory policy and recent changes in the regulatory structure. It includes information on the payment instruments that are in use in the Israel market, the key segments within the market, as well as the companies associated with the Israel cards and payments market.

Israel Cards and Payments Market Dynamics

The growing adoption of contactless POS terminals is driving the use of cards for payments. On the other hand, the government has launched various initiatives such as the introduction of a cap on cash transactions and a reduction in interchange fees, to promote the adoption of electronic payments in the country. Robust e-commerce growth, the adoption of EMV technology, the increased contactless payment limit, new entrants in the merchant acquiring space, and the emergence of digital-only banks are other important trends witnessed during the review period.

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Israel Cards and Payments Market Segmentation by Payment Instruments

Card has the highest share in the market in volume terms in 2023.

The key payment instruments in the Israel cards and payments market are cards, credit transfers, direct debits, and cheques. Credit transfers lead the market in 2023 in terms of value and are mostly used by businesses to pay salaries, pensions, taxes, and suppliers. High-value credit transfers are processed by the Zahav real-time gross settlement payment system while low-value transactions are processed via the Masav system.

Israel Cards and Payments Market Analysis by Payment Instruments, 2023 (%)

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Israel Cards and Payments Market Segments

The Israeli credit and charge card market is dominated by Visa and Mastercard.

The key segments in the Israel cards and payments market are card-based e-commerce and alternative payments.

Card-Based Payments: The shift away from low-value cash payments is driving the usage of payment cards in Israel. Charge cards exceed credit cards in terms of the number of cards in circulation, transaction volume, and transaction value, reflecting the debt-averse nature of Israeli consumers and their general preference for paying off outstanding balances by the end of interest-free periods.

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Israel Cards and Payments Market - Competitive Landscape

Some of the leading players in the Israel cards and payments market are:

• Google Pay
• Apple Pay
• PayPal
• PayBox
• Fibi Pay

PayPal: It is a money transfer and e-commerce payment provider that offers a flexible payment service with free accounts. It allows users to add payment card details to their PayPal account to make online payments. Users can also use their PayPal wallet balance for purchases.

Leading Israel Cards and Payments Players, 2023

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Segments Covered in the Report

Israel Cards and Payments Instruments Outlook (Value, $ Billion, 2019-2027)

• Cards
• Credit transfers
• Direct debits
• Cheques

Israel Cards and Payments Market Segments Outlook (Value, $ Billion, 2019-2027)

• Card-Based Payments
• E-commerce Payments
• Alternative Payments

Scope

This report provides top-level market analysis, information, and insights into the Israel 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 cards, credit transfers, direct debits, 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 banks and other institutions adopt to market debit, credit, and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Israeli cards and payments industry.

Reasons to Buy

This report provides top-level market analysis, information, and insights into the Israel 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 cards, credit transfers, direct debits, 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 banks and other institutions adopt to market debit, credit, and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Israeli cards and payments industry.