Top payment methods in Israel: A guide on best ways to pay
Wondering what the most popular ways to pay are in Israel? Explore the top payment options and choose wisely.
Israel, with a population of around 10.10 million people, has a GDP of approximately 583.36 billion making it the 27th largest economy in the world. The official currency of Israel is the Israeli New Shekel (ILS)
The economy is a highly advanced, technology-driven system with major sectors in software, cybersecurity, and pharmaceuticals. It has free trade agreements with the United States and the European Union, which are its largest trading partners.
| Country | Israel |
|---|---|
| Population | 10.10 million |
| GDP (USD) | 583.36 billion |
| Global Ranking | 27th |
| Currency | Israeli New Shekel (ILS) |
Spend abroad with the mid-market exchange rate - no markups, and no sneaky transaction fees.
What is the main payment method in Israel?
The most common non-cash payment method in Israel is the credit or debit card, which is widely accepted everywhere. For peer-to-peer transactions, payment apps like Bit and Paybox are extremely popular and used for sending money between individuals, splitting bills, and making payments to small businesses. For larger payments and settling recurring bills, direct bank transfers are the standard method.
How to pay in Israel
Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Israel.
| Payment Method | Description | Type |
|---|---|---|
| Wise | Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies. | Online/In-person |
| Cards (Credit/Debit) | Credit and debit cards are the leading payment method in Israel and are accepted universally for online and in-person transactions. | Online/In-person |
| Digital Wallets & Apps (Bit, PayBox) | Bank-backed payment apps Bit and PayBox are massively popular for P2P money transfers and are increasingly used for merchant payments. | Online/In-person |
| Bank Transfers | Direct bank transfers are a common payment method, especially for bills and online purchases. | Online |
| Cash (Shekel) | Cash is still a frequently used payment method for daily expenses, especially at open-air markets and for smaller transactions. | In-person |
Is PayPal available in Israel?
Yes, PayPal is accepted in Israel.
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Whatever you need to buy during your trip, whether it’s a travel adapter, train ticket or an extra bottle of sunscreen, the Wise Multi-Currency Card has you covered.
You can spend like a local in 150+ countries, as this clever contactless card automatically converts currency at the mid-market exchange rate whenever you spend - for just a small conversion fee.
And for extra convenience, you can add your Wise Multi-Currency Card to your Google Wallet or Apple Wallet. Then you can travel even lighter and pay using just your phone, with no need to pack the physical card.
Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.