Client updates / Credit

Regulation of Payment Services in Israel – Latest Developments

7 March 2024 / Barnea

The Israel Securities Authority’s publications in recent months do not reflect the final version of the directives, but indicate the ISA’s approach when regulating payment services: setting out the licensing process and the licensing requirements, defining criteria for exemptions, technological requirements, safeguarding and protecting customers’ funds, examining service providers’ integrity, etc.

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Categories: Financial Regulation | Regulation

Israel: Regulating Payment Services and Payment Initiation

28 May 2023 / Barnea

New provisions set out the licensing framework for the provision of payment services, designed to encourage new players to enter the Israeli market and offer payment services while providing broad protection to consumers. The law will apply to companies providing payment services, credit service providers, acquirers, and more.

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Categories: Banking Regulation | FinTech | Regulation

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