Controlled payment systems

The “Debits, Credits and Transfers System”

In July 2013, the Bank of Israel declared the “Debits, Credits and Transfers System” operated by MASAV (Banking Settlement Center) as a controlled system.

MASAV is a joint service company owned by a number of commercial banks.  The “Debits, Credits and Transfers System” is an electronic system for settling interbank shekel transactions that are not paper-based, and includes account debit authorizations, and salary and tax payments.  The transactions are transmitted by banks and organizations authorized to send direct payment instructions.

There are two types of instructions carried out in the system: direct credits—payments originating with organizations (including the government), and payments originating with banks, which reflect customer activity; and direct debits—charges originating with organizations (authorized debits).

For more information on MASAV, click here.

“Payment Card Services (ASHRAIT) System”

In July 2013, the Bank of Israel declared the “Payment Card Services (ASHRAIT) System” operated by SHVA (Banking Settlement Center) as a controlled system.

SHVA manages the communications network between payment card companies and card terminals at merchants’ premises.  The network supports most payment cards in the world, and all types of transactions made with payment cards.

In addition, SHVA manages a settlement interface between the credit card companies.  The interface brings together the activity of each merchant acquirer and each card issuer, and produces clearance files at the end of the process.  The process is conducted in accordance with predefined rules.  The interface manages a central database for clarifications, and enables the management of a sumple accounting control system.  The clearance files are sent to MASAV for settlement in the ZAHAV system.

ATM system

In July 2013, the Bank of Israel declared the ATM system operated by SHVA (Banking Settlement Center) as a controlled system.

The ATM network is a nationwide network managed jointly by all the banks, which enables customers from one bank to withdraw cash from the ATM of another bank, in a secure and controlled manner that is identical to an ordinary cash withdrawal.  The ATM system serves as a switch between banks in withdrawal transactions where the customer makes a withdrawal from an ATM that is not operated by the issuer of the card through which the withdrawal is made.

For more information on SHVA, click here.

“ASHRAIT EMV Protocol” system

In August 2022, the Bank of Israel declared the “EMV Terminal Protocol” operated by The Association for Management of the EMV Terminal Protocol in Israel as a controlled system.

On March 24, 2020, the Association for Management of the EMV Terminal Protocol in Israel was established as a nonprofit organization.  The members of the Association are manufacturers, aggregators, gateway companies, switches, and processors.  The Association also includes nonmember observers.  The Association was established to manage the ASHRAIT EMV protocol in Israel, and deals with the specification, development, and operation of the protocol.    The protocol is a technological specification and message structure following the EMV standard that is used to transfer transactions and information between entities on the payment card transaction chain, in the segment between the terminal and the merchant acquirer (or its processes), except for ATM cash withdrawal transactions.