Digital Bank, Isracard to issue and manage credit cards
The cards for First Digital Bank’s customers will be issued by MasterCard, which is a leader in digital payments worldwide.
By JERUSALEM POST STAFFA Visa credit card is seen on a computer keyboard in this picture illustration(photo credit: REUTERS/PHILIPPE WOJAZER)
Israel's first digital bank and Isracard, Israel’s largest credit-card company, on Tuesday announced they had agreed to jointly issue and manage debit cards for customers of the currently unnamed bank.Customers of the bank, which plans to launch operations in the second half of 2021, will be able to choose from Isracard’s broad range of international cards.The cards for customers will be issued by MasterCard, which is a leader in digital payments worldwide.The digital bank is about to complete its registration as a member of the Tel Aviv Stock Exchange, enter a mutual-recognition agreement with other banks and comply with requirements to allow its customers to trade on other stock exchanges.Earlier this month, Prof. Amnon Shashua, the founder and CEO of Mobileye, announced that he would be taking sole control of the bank after reaching an agreement to purchase fellow controlling shareholder Marius Nacht's holdings.“We are establishing the first digital bank in Israel to empower customers and give them better control of their finance with a bank they would trust,” CEO of the digital bank Gal Bar Dea said. “While the road ahead is still long, we are progressing as planned.”
