Bank of Israel: Opens payment network to international payments firms
- Bank of Israel has issued a framework providing international payment service providers access to regulated payment systems
- Effective immediately, this framework enables such entities to provide services to the public
- The central bank expects this announcement to bolster innovation in the payments arena
- The framework formulated by the Bank establishes two tracks, as set forth below
- This framework will enable these entities to prepare the technological connection to regulated payments systems
- The framework enables such entities to proceed without waiting for final legislation of the Payment Services Regulation Law
