Attorney Gili Bartura in an interview by Globes about the new regulation of payment services and payment initiation services law

Attorney Gili Bartura, from our firm’s Banking and Finance Department, was recently interviewed by Globes regarding the new Regulation of Payment Services and Payment Initiation Services Law.

Gili addresses the new law that will come into effect this week, enabling “non-traditional” financial entities to provide payment services.

The goal is to foster competition with banks and reduce costs for consumers.

According to Gili, “We should see this as a set of laws attempting to generate competition, whether by making information about current accounts, insurance, and pensions accessible to various entities, or by allowing more entities to provide payment services. This aims to offer these services at a lower cost. When individuals have control over their information, they can make more informed comparisons and use the new entities’ services at a lower cost.”

About two weeks ago, we held an in-depth professional conference on the subject at Tel Aviv University, led by our firm’s Banking & Finance Department and Competition & Antitrust Department. The event featured key regulators in the field, as well as representatives from banks and the private sector.

Click here for the full article (Hebrew).