The Accountant General has signed an agreement with the credit card companies to reduce clearing fees, the Finance Ministry said Thursday.
The agreement will provide Max, CAL and Isracard with significant savings compared to 2020, it said.
Under the new agreement, a fixed fee was set at a significantly lower rate than the previous commission, in transactions in the amount of up to NIS 35,000.In addition to the reduction of the fixed commission, it was determined that the commission will be reduced each year by a rate of approximately 2.5%.The new agreement will lead to significant savings in state expenditures on fees, along with improving the services provided to government ministries and increasing the ability to supervise and control the revenues they receive through credit card payments.
The new agreement embodies the changes that have taken place in the industry and the structure of transactions in recent years; The change in the nature of payments and the needs of government ministries; the change in the volume of online payments to the state; the separation of banks from credit card companies; the increase in the use of an instant debit credit card, and more, the Ministry said.