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Google Pay will be available in Israel by the end of 2021

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After the successful launch of Apple Pay in Israel, Google Pay is preparing for its launch here by the end of the year.

This follows a similar deal that Google Pay signed with Leumi Bank and its Max credit card unit earlier this month.

These contracts, as well as contracts with other banks that may be followed, allow Google Pay digital wallet users to make payments using their mobile phones in stores equipped with contactless EMV payment terminals. ..

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According to the Bank of Israel, about two-thirds of all Israeli payment terminals support the standard launched here last November, and about 60% of transactions are conducted using this standard. ..

All Israeli credit cards issued in the last few years comply with EMV standards. Payments can also be made on NFC-enabled Android devices running version 5.0 or later, iPhone 6 or later models, and all Apple Watch apps.

These mobile and watch users can complete payments in stores or online with just a few taps, further streamlining the purchasing process for buyers and sellers.

Since the launch of Apple Pay in Israel in May, usage has grown rapidly and now has hundreds of thousands of registered users. According to Shva, which handles all credit payments in Israel, the use of digital wallet apps in Israel has increased by 1,300% since the launch of Apple Pay.

Apple Pay is the most widely used digital wallet in the world, with approximately 400 million users. Google Pay has about 150 million users.

Android users already have a digital wallet solution available from most major credit card issuers and banks, such as Bank Hapo Alime Bit and Bank Leumi Pepper.

However, Google’s entry into the market could create more buzz and could be another turning point in Apple Pay’s post-launch technology adoption.

About 70% of Israeli smartphones run on Google’s Android platform.

Beer Sheva grocery store (YASSER OKBI).

Sources

1/ https://Google.com/

2/ https://www.jpost.com/israel-news/google-pay-to-launch-in-israel-by-end-of-2021-679265

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