Six months after Apple Pay became available in Israel, smartphone users can now enjoy Google Pay.
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Google Pay can be used for purchases of over 300 shekels ($96) and is available for free download from Google Store.
To use Google Pay, a smartphone user is identified via code or fingerprint. Then they hold their device up to a business' payment terminal, and the transaction is processed. Google Pay can be used at any business set up to take EMV contact-free payments.
The Bank of Israel has instructed all businesses in Israel to install EMV systems, and the process is expected to be completed in the coming months.
In a related development, starting Tuesday, Android users who have Max credit cards are now able to use Google Pay rather than the Max smartphone app.
According to Max CEO Ron Fainaro, payment via smartphone in Israel is gaining traction a growing at an average rate of 10% per month.
"Most of the users, almost 60%, are under age 40. About 20% are aged 41-50, and the rest are over 51. I'm certain that Google Pay will increase even more the use of smartphones as a key payment method," Fainaro said.
Since Apple Pay became an option for Israeli iPhone users, the number of payment transactions conducted by smartphone jumped by several hundred percent. However, smartphone payment still comprises only some 7% of digital payments in Israel.
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