RegulationsAdministrative Law
Payment Services (Exemption from the Provisions of the Law) Regulations, 5782-2022
תקנות שירותי תשלום (פטור מהוראות החוק), תשפ"ב-2022
Published: 2022-04-13Consolidated Hebrew text as of 2026-05-27 · Last amended 2022-05-11
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By virtue of my authority under Sections 48(b) and 54(b) of the Payment Services Law, 5779-2019 (hereinafter – the Law), with the consent of the Minister of Finance and the Governor of the Bank of Israel and with the approval of the Economic Affairs Committee of the Knesset, I hereby promulgate these Regulations:
Exemption in respect of Payment Transactions§
1.
(a)A payment transaction carried out from a payment account or to a payment account managed with a payment service provider that is supervised pursuant to law, and whose payment instruction for its execution is transmitted by means of the SWIFT banking transfer system, is exempt from the provisions of Section 14(a) of the Law.
(b)Sub-regulation (a) shall not apply to a commission or any other charge which, pursuant to the payment instruction, the payer has chosen to bear personally and which the payment service provider collects directly from the payer.
Exemption in respect of Payment Instruments§
2.
(a)A payment instrument in respect of which the conditions set out below in paragraphs (1) or (2) are fulfilled is exempt from the provisions of the Law, except pursuant to Sections 7 to 9, 13, 14, 15(a), 17, 18, 18a, 19, 20, 28, 40(d) to (f), 41, 42(b)(2) to (4), (15) and (16), 43, 45, 46(b) to (c), 47, 48, 51 – in respect of the sections of the Law mentioned therein that are not exempt from the provisions of the Law, 52 to 54 of the Law:
(1)
(a)In accordance with the terms of a contract setting out the conditions of use of the payment instrument, it is not intended for use by a specific payer;
(b)The maximum amount that may be accumulated in it is NIS 1,500, and it is not capable of being reloaded with accumulated value;
(b1)It is presented by the payment service provider or someone on its behalf separately from other payment instruments, and payment by means of it is made separately from other payment instruments;
(c)The charge by means of the payment instrument is immediate against the accumulated balance, and deferred payments cannot be made by means of it;
(2)
(a)It is a payment instrument of the type of a payment card as defined in the Banking (Licensing) Law;
(b)It was issued by the payment service provider for use by a payer who is not a specific payer and was delivered to the specific payer by means of a governmental body or a non-profit corporation as part of economic assistance provided to that payer;
(c)It is capable of being reloaded such that the maximum amount that may be accumulated in it at any time is NIS 1,500;
(d)The charge by means of the payment instrument is immediate against the accumulated balance and deferred payments cannot be made by means of it;
(e)Payment instructions may be given by means of it only by its physical presentation to the supplier;
(f)It enables the purchase of an asset or service from a limited number of suppliers.
(b)
(1)Notwithstanding the provisions of sub-regulation (a), the provisions of Sections 17, 18(d) – in respect of delivering a notice to the payer, 18a(c)(2) and 28 of the Law shall apply to a payment instrument as referred to in that sub-regulation only if the payment service provider is able to identify the payer and the payment instrument with reasonable efforts;
(2)Notwithstanding the provisions of sub-regulation (a), the provisions of the concluding part of Section 17(b) of the Law shall apply such that during the period from the date of delivery of the notice to the payer setting out the reasons for the charge and until the date of the actual charge, the payment service provider may restrict use of the payment instrument in the amount to be re-charged to the payer;
(3)The provisions of Sections 18(b) and 18a(c)(3) of the Law shall apply to a payment instrument as referred to in sub-regulation (a) such that the return of funds shall be as a balance to the payment instrument by means of which the payer was charged; this paragraph shall not apply to a paper-based payment instrument.
Duties of a Payment Service Provider§
3.
(a)The following duties shall apply to a payment service provider that issues a payment instrument in respect of which the conditions set out in regulation 2(a)(1) are fulfilled:
(1)It shall disclose to the payer the material conditions relating to the use of the payment instrument in accordance with Section 7 of the Law, including all of the following:
(a)The identity of the issuer;
(b)The manner of redeeming the accumulated amount in the payment instrument;
(c)A list of suppliers from whom an asset or service may be purchased by means of the payment instrument;
(d)The validity of the payment instrument;
(e)Provisions in respect of loss or theft of the payment instrument, including in respect of restoration of the accumulated balance, in accordance with paragraph (2);
(2)It shall act to restore the accumulated balance in a payment instrument that has been lost or stolen, at the request of a person who appears to it to be one who held the payment instrument lawfully, and shall also freeze use of the payment instrument at the request of a person who appears to be such a holder, except in cases where it is unable, with reasonable efforts, to identify the payment instrument of that applicant for the purpose of restoring the balance, provided that there is an accumulated balance in the payment instrument at the time the applicant approached it as aforesaid; this provision shall not apply to a paper-based payment instrument;
(3)It shall determine that the value of the accumulated amount shall be redeemed uniformly in respect of all suppliers from whom an asset or service may be purchased by means of the payment instrument;
(4)
(a)It shall not limit the validity of a payment instrument to a period of less than five years; however, in respect of a payment instrument that is a voucher for the purchase of a specific product or service with no monetary amount stated alongside it – the validity of the payment instrument shall not be limited to a period of less than two years, provided that the amount paid for such a payment instrument exceeds NIS 50;
(b)It shall renew, at the request of the holder of a payment instrument, other than a payment instrument that is a voucher for the purchase of a specific product or service with no monetary amount stated alongside it, whose validity has expired – for an additional period of five years to be counted from the end of the validity of the payment instrument; the payment service provider shall enable such renewal in a simple and convenient manner;
(c)Notwithstanding the provisions of sub-paragraph (b), if the accumulated amount in a payment instrument as referred to in sub-paragraph (a) whose validity has expired exceeds NIS 150, the payment service provider shall renew, at the request of the holder, the validity of the expired payment instrument for a period of 10 years to be counted from the end of the validity of the payment instrument; the payment service provider shall enable such renewal in a simple and convenient manner;
(d)It shall send a notice to the person who appears to be the holder of the payment instrument, if that person can be located with reasonable efforts, regarding the existence of the payment instrument, the accumulated amount in it and its validity, provided that the accumulated amount in it exceeds NIS 50; such a notice shall be sent in a manner that enables accessible communication as far as possible, at least once a year and in addition one month before the expiry of the validity of the payment instrument and one month before the end of the period in which it is possible to request an extension of the validity of the payment instrument as referred to in sub-paragraph (b);
(5)If a beneficiary has notified the payment service provider of the cancellation of a transaction pursuant to the Consumer Protection Law, the payment service provider shall enable the return of the payment to the payer as a result of the cancellation of the transaction in accordance with the beneficiary's notice, as a balance to the payment instrument by means of which the payment was made; this paragraph shall not apply to a paper-based payment instrument.
(b)The duties set out in sub-regulation (a) shall apply to a payment service provider that issues a payment instrument set out in regulation 2(a)(2) –
(1)In paragraph (1)(a) to (d);
(2)In paragraph (1)(e), except in respect of restoration of an accumulated balance;
(3)In paragraph (3);
Without derogating from the provisions of any law, a payment service provider may comply with the said duties by means of the association or the governmental body that delivered the payment instrument to the payer.
Commencement, Application and Transitional Provisions§
4.
(a)Regulation 1 shall commence on the date of commencement of the Law.
(b)Regulations 2 and 3 shall commence on the 13th of Nisan 5782 (14 April 2022), and shall apply in respect of a payment instrument issued from that date onwards.
(c)Regulation 3(a)(4)(d) of the principal Regulations shall apply to a payment instrument issued before the date of publication of the Payment Services (Exemption from the Provisions of the Law) (Amendment No. 2) (Amendment) Regulations, 5786-2026 (hereinafter in this regulation – the determining date), provided that the accumulated amount in the payment instrument exceeds NIS 100.
(d)In respect of a payment instrument for the purchase of a specific product or service with no monetary amount stated alongside it that was issued before the determining date, the provisions that applied before that date shall apply.
Validity§
5.
The validity of regulations 2 and 3 in respect of a payment instrument in respect of which the conditions set out in regulation 2(a)(1) or (2) are fulfilled – until the 20th of Tammuz 5788 (14 July 2028).
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