Bank of Israels Payment and Settlement Systems Department Adds Three More Firms
The Bank of Israel's Payment Systems Department has approved GAMA Management, Max-IT Finance, and RAPYD Israel Payments for access to retail payment systems.
Jerusalem, 27 April, 2026 (TPS-IL) — The Bank of Israel’s Payment and Settlement Systems Department, in its role as supervisor of payment systems, announced the completion of the accession process to the payment systems for three additional nonbank entities. Obtaining access to the payment systems enables the new nonbank participants to streamline how they transfer payments and to offer new payment services and solutions.
As part of its long-term policy, the Bank of Israel’s Payment Systems Oversight Division has in recent years led a series of significant measures to encourage competition in Israel’s payments market, while maintaining the stability and efficiency of the payment systems.
In view of the measures that have been advanced, the three firms “GAMA Management and Clearing Ltd.”, “Max-IT Finance Ltd.”, and “RAPYD Israel Payments Ltd.” have recently completed their connections to the retail payment systems that are supervised by the Bank of Israel.
Ofer Golan, Head of the Payment and Settlement Systems Department, said: “The addition of a variety of new participants to the payment systems is an important and significant step in advancing competition and in supporting innovation in the Israeli payments market. This step is highly important in view of the potential of the new participants to develop and implement advanced and innovative payment solutions, which should increase competition in the financial market, streamline business processes, and improve financial services for consumers and merchants. We welcome the fact that additional participants, including international firms, are realizing that the measures we have taken are a real opportunity to act and to invest in the Israeli market.”
