Digital wallet Google Pay will begin operations in Israel tomorrow morning. Last month, “Globes” was the first to report the imminent start of Israel operations after Google Pay had informed the banks and credit card companies of the date of the start of operations so that they could ready for the battle to become the default credit card of the tech giant – in other words the card with which most purchases will be made.
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Google Pay had initially planned to launch in Israel last summer but eventually postponed the start of operations. The entry of Google Pay into the Israeli market is expected to have a huge effect on the digital wallet market in Israel such as Bank Hapoalim’s Bit and Bank Leumi’s Pepper.
The reason for Google Pay’s anticipated major impact is that it works on the Android operating system of the mobile devices held by more than 70% of Israelis. iPhone users can only use the Apple Pay digital wallet. Even though less than 30% of Israelis own iPhones, the entry of Apple Pay saw use of digital wallets in Israel soar by 800%. It now remains to be seen whether Google Pay creates the same effect for Android users.
Google Pay can be used in all outlets that accept contactless payments. In order to use the digital wallet, the app must be downloaded from the app store with credit card details then added. All credit cards added to Google Pay must have been issued by one of Israel’s banks or credit card companies Isracard, CAL or Max.
Published by Globes, Israel business news – en.globes.co.il – on December 6, 2021.
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