Updates to international entities

Notice to Foreign Service Providers Interested in Connecting to the Payments System in Israel

On February 28, 2023, the Payment Systems Oversight Division of the Bank of Israel issued a press release noting that the access to the payment systems in Israel was opened to foreign payment service providers. Within the framework of the press release, the terms for being granted access were detailed https://www.boi.org.il

Within the framework of the terms for being granted access to the payment systems in Israel, a foreign payment service provider is required to provide a Comfort Letter from the entity that supervises it. To simplify the process, the Bank of Israel is publishing a sample comfort letter. It is a sample comfort letter and may be different among various regulators and countries.

Upon receipt of the comfort letter, the Payment Systems Oversight Division at the Bank of Israel, will carry out the required examinations, and will then contact the foreign payment service provider.

For further clarifications, please contact the Payment Systems Oversight Division via email: payments-oversight@boi.org.il

Comfort Letter from the Regulator in order to Connect to the Payment Systems in Israel

In order to connect a foreign payment service provider to the payment systems in Israel, it must provide a Comfort Letter from the regulator/supervisor that supervises it in its country.

For a sample comfort letter, click here.

To the extent that changes or adjustments are required for a specific country, we will be happy to work with you to adjust the comfort letter for specific needs. We are in contact with various regulators and are pleased with the collaboration that will contribute to advancing business activity between the countries.

For further clarifications, please contact the Payment Systems Oversight Division via email: payments-oversight@boi.org.il to Moriya Gov-Solomon or Netanel Tauber.