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Google Pay to launch in Israel by end of 2021

CM 12/09/2021

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Following Apple Pay’s successful launch in Israel, Google Pay is gearing up its launch here before the end of the year.
On Sunday, Isracard, Israel’s largest credit card issuer, said it reached a one-year agreement with Google to offer payments via the search giant’s digital wallet with no fees. The agreement will renew automatically at the end of the year if there are no changes. That follows similar agreements that Google Pay signed with Bank Leumi and its Max credit card unit earlier this month.  
These agreements, and those with other banks that are likely to follow, will allow users of the Google Pay digital wallet to make payments using their phone at stores with contactless EMV payment terminals. About two-thirds of all payment terminals in Israel now support the standard, which was launched in Israel last November, and some 60% of transactions in the country are made using it, the Bank of Israel said.

All Israeli credit cards issued in the past several years comply with the EMV standard. Payments can also be made with apps on NFC-enabled Android devices running version 5.0 or higher, iPhone 6 and later models, and all Apple Watches.
Users of such phones and watches can complete payment in stores and online with just a few taps, making the purchase process more streamlined for buyers and sellers.

A Beersheba grocery store (YASSER OKBI).A Beersheba grocery store (YASSER OKBI).

Since Apple Pay launched in Israel in May, usage has grown rapidly, with hundreds of thousands of users now registered. The use of digital wallet apps in Israel has grown by 1300% since Apple Pay’s launch, according to Shva, the company that handles all credit payments in Israel.
Apple Pay is the most widely used digital wallet in the world, with some 400 million users. Google Pay has some 150 million users.
Android users already have digital wallet solutions available from most major credit card issuers and banks, led by Bank Hapoalim’s Bit and Bank Leumi’s Pepper. However, Google’s entry into the market will likely generate further buzz, and represent another tipping point for the technology’s adoption after Apple Pay’s launch. Approximately 70% of smartphones in Israel run on Google’s Android platform.

Source: Jerusalem Post

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