Apple Pay is launching in Israel on May 5, making it the first major international player with deep pockets and broad financial technology to enter Israel’s payment market, according to Haaretz.
An estimated 20-30% of smartphone owners in Israel have Apple devices. For some 1 million Israeli consumers, Apple Pay will be the first to offer payment via app.
Under Apple’s contract with Israeli banks and credit card companies, banks will pay Apple a 0.05% fee on average for all transactions via its platform.
In and of itself, Apple Pay is not expected to cause a dramatic change in Israel’s digital payments market, but it is pushing other players to the realization that they, too, need to offer digital payment options and invest money and resources in development.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
