The Bank of Israel recently led several important developments in the Israeli payments market. These developments are designed to encourage competition in the payment services market and to advance the implementation of...more
12/23/2019
/ Bank of Israel ,
Credit Cards ,
Electronic Payment Transactions ,
EU ,
European Banking Authority (EBA) ,
Financial Services Industry ,
Innovative Technology ,
Israel ,
Open Banking ,
PSD2 ,
Regulation Technical Standards (RTS)
When a company is looking to start operating online via a website or an app, it must ensure its relationship with its users is defined not only from a marketing point of view but also from a legal perspective....more
In October 2019, Attorney General Avichai Mandelblit published a detailed guideline document addressed to the legal counsels of various government ministries. The guideline is intended to assist and support such government...more
The State of Israel is constantly pursuing ways to support innovation and is immensely occupied with encouraging and supporting entrepreneurship, which it considers the foundation of developing the local economy. To that end,...more
Six months after the amendment to the Economic Competition Law took effect, the Competition Authority published its position regarding the circumstances in which even an entity with less than a 50% market share may be deemed...more
Bank of Israel published a position paper with respect to the activity of banks’ payment apps (Pepper by Bank Leumi, Bit by Bank Poalim, and Paybox by Discount Bank) in the B2C market. The position paper is the conclusion of...more
July 2019 brought an escalation in the enforcement of privacy infringements by companies around the world. The trend began with a press release published on July 8, 2019, of a fine in the approximate amount of GBP 183 million...more
7/26/2019
/ British Airways ,
California Consumer Privacy Act (CCPA) ,
Cambridge Analytica ,
Cyber Attacks ,
Data Breach ,
Enforcement Actions ,
EU ,
Facebook ,
Federal Trade Commission (FTC) ,
Fines ,
General Data Protection Regulation (GDPR) ,
Hotels ,
Israel ,
Marriott ,
Multinationals ,
Privacy Laws ,
Privacy Policy ,
Risk Assessment ,
Risk Mitigation ,
Settlement Agreements ,
UK ICO
The payment market in Israel and around the world is marching toward revolution: Facebook announced the launch of its digital currency, the Libra; Le’umi Bank entered into agreements with 400 businesses for acceptance of...more
7/11/2019
/ Bank of Israel ,
Banks ,
Credit Cards ,
Digital Currency ,
Electronic Payment Transactions ,
Facebook ,
Financial Services Industry ,
Innovative Technology ,
Israel ,
Mobile Apps ,
Payment Systems ,
Point of Sale Terminals