Bank of Israel opens payment protocol to smaller players
Central bank removes obstacle to new firms looking to enter payments market
The Bank of Israel has opened up the country's payments protocol to the public, removing what it considers to be a major obstacle to new payments firms.
The protocol sets out the technical details of accessing the payment system – "the business and technical logic", as the central bank puts it. It was previously controlled by Shva, a firm providing automated banking services and sitting at the heart of the Israeli payment system.
The policy governing the protocol is now set by the Payment Card
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