The Bank of Israel’s Payment and Settlement Systems Department announced the completion of the accession process for three additional nonbank entities to the retail payment systems it supervises, giving them access intended to streamline payment transfers and support the rollout of new payment services. GAMA Management and Clearing Ltd. connected to MASAV’s debits, credits and transfers system, including faster payments, and was allocated identification code 94. RAPYD Israel Payments Ltd. connected to the SHVA payment cards system with identification code 75. Max-IT Finance Ltd. connected to MASAV’s debits, credits and transfers system with identification code 06, after previously connecting to SHVA’s payment cards system and opting to connect to an additional system. The move forms part of the central bank’s broader measures in recent years to encourage competition in Israel’s payments market while maintaining stability and efficiency in payment systems.
Bank of Israel 2026-04-26
Bank of Israel completes accession of GAMA, Max-IT and RAPYD to MASAV and SHVA retail payment systems
The Bank of Israel’s Payment and Settlement Systems Department has completed the accession of three additional nonbank entities to the retail payment systems it supervises, expanding direct access to MASAV and SHVA. GAMA Management and Clearing Ltd. and Max-IT Finance Ltd. have connected to MASAV’s debits, credits and transfers system, while RAPYD Israel Payments Ltd. has connected to the SHVA payment cards system. The move is part of the central bank’s efforts to promote competition in Israel’s payments market while maintaining stability and efficiency.