Israel Cards and Payments: Opportunities and Risks to 2028

The ‘Israel Cards and Payments: Opportunities and Risks to 2028' 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 card, cash, credit transfer, and cheques during the review-period (2020-24e).

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 (2024e-24f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the analyst’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.

The ‘Israel Cards and Payments: Opportunities and Risks to 2028' 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, and credit cards.
• Detailed insights into payment instruments including cash, card, credit transfer, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce 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, and credit cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Israeli cards and payments industry.

Key Highlights

• The growing adoption of contactless POS terminals is driving the use of cards for payments. To support this trend, in June 2022, Visa partnered with the payment services provider Nayax to provide contactless card acceptance terminals to more than 1,000 taxis in the country. The terminal enables passengers to pay for taxi fares using contactless Visa cards, as well as NFC-based mobile payment solutions, such as Apple Pay and Google Pay. Similarly, in July 2024, the Israel-based fuel and oil distribution company Dor Alon launched a pilot to receive payment on smartphones at their gas stations.
• The emergence of digital only banks will also boost the debit card adoption in the country. In March 2022, the Bank of Israel has granted a full banking license to the digital-only bank ONE ZERO to launch its operations in the country. ONE ZERO offers Zero, One, and One+ accounts which come with a debit card. Since its inception in 2022, the digital-only bank has acquired over 100,000 customers in Israel as of March 2024.
• Amid the ongoing conflict, the Bank of Israel is making several measures to safeguard the economy. Since January 1, 2024, the Bank of Israel has maintained the policy interest rate at 4.5%; continuing its efforts to stabilize the economy, as well as tame inflation. The policy rate stood at 3.2% at the end of 2022. Against this backdrop, the growth in credit and charge card payment value slowed from 17.8% in 2021 to 13.9% in 2022 and to 6.2% in 2023.

Scope

• Card market size in terms of number of cards, value and volume of transactions in Israel along with detailed card segmentation of debit and credit cards available in the country.
• Market sizing and analysis of major payment instruments including cash, card, credit transfer, direct debits, and cheques.
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Israeli cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Israeli cards and payments industry.
• Assess the competitive dynamics in the Israeli cards and payments industry.
• Gain insights into marketing strategies used for various card types in Israel.
• Gain insights into key regulations governing the Israeli cards and payments industry.