International Bank, FibiPay
The International Bank announced today (Tuesday 16.2) the launch FibiPay, The bank’s new digital wallet that arrives as part of a new wave of announcements in the field of non-contact payment in Israel, when it will allow non-contact payments to be made at credit terminals that support the EMV standard and NFC technology for the bank’s customers.
The International Bank’s new FibiPay wallet comes after a previous announcement by Bank Hapoalim about turning the Beat service into a digital wallet, following the publication of the official position of the Bank of Israel on digital wallets, which opened the new “arms race” in the field of digital wallets. The FibiPay wallet will only be available to customers of the International Bank and its affiliates: Otzar Hachayal, UBank and Fagi.
Like other digital solutions, the FibiPay wallet will allow bank customers to make non-contact payments, with the digital wallet only available for supported Android devices and without a parallel solution for Apple device holders. At launch, the wallet will only support Visa credit cards, with MasterCard support later.
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Smadar Barber-Tzadik, CEO of the International Bank, said:
The launch of FibiPay is a significant move in International, a competition-generating bank that promotes leading solutions to its customers in the areas of payments, credit and the capital market.
Ron Grisero, VP and Head of International Banking, said:
FibiPay is an innovative and important development within the rich digital services basket of the international and enables the bank’s customers to enjoy an advanced digital wallet, along with other services we have recently launched such as digital pension consulting, mobile account opening and the international capabilities of the capital market and investments.
It is impossible to say that the term “arms race” is exaggerated for the digital wallet market. FibiPay is the second wallet launched after the Bank of Israel’s policy announcement, when we are expected to see more players enter the field in the near and immediate future. All that remains to be seen is who will be next in line.
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