Payments/PS
Palestine, State of
ISO PS · 3 schemes
Summary
- PalPay leading e-payment operator (2010)
- Bank of Palestine QR single QR for multiple apps
- 6,000+ POS network nationwide
- 0.25% merchant fee competitive pricing
- SoftPOS smartphone terminals
Banking landscape
Central Bank
- Name: Palestine Monetary Authority (PMA)
- Website: https://www.pma.ps/
- Role: Monetary policy, e-payment licensing
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Bank of Palestine | Private | Banky App |
| 2 | Arab Bank | Regional | Arab Bank App |
| 3 | Arab Islamic Bank | Islamic | AIB Mobile |
| 4 | Palestine Islamic Bank | Islamic | PIB App |
| 5 | Quds Bank | Private | Quds Mobile |
Market Structure
- Bank of Palestine: Largest, PalPay parent
- PalPay: First e-payment platform (2010)
- 6,000+ POS: Network coverage
- PMA licensed: E-wallet operations
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| PalPay | Bank of Palestine | E-wallet/QR | Active |
| Banky | Bank of Palestine | Mobile banking | Active |
| SoftPOS | Bank of Palestine | Smartphone POS | Active |
PalPay Network
- 6,000+ points of sale
- Shops, supermarkets, pharmacies
- Telecommunication agents
- All cities, villages, camps
SoftPOS Technology
- Android 11.0+ smartphones
- Contactless NFC acceptance
- QR code technology
- Instant merchant wallet credit
QR code standards
Bank of Palestine QR
| Attribute | Value |
|---|---|
| Operator | Bank of Palestine Group |
| Apps | Banky, PalPay, AIB |
| Feature | Single QR, multiple apps |
| Fee | 0.25% merchant |
Unified QR Features
- Single QR CODE for merchants
- Works with Banky app
- Works with PalPay app
- Works with Arab Islamic Bank app
QR Payment Benefits
- Instant payments
- Secure standards
- Fast transactions
- Easy merchant adoption
Merchant Pricing
- 0.25% fee deduction
- Very competitive rate
- Encourages adoption
- Service provider friendly
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| Banky | Bank of Palestine | Yes | Full banking |
| PalPay Mahfazati | PalPay | Yes | E-wallet |
| AIB Mobile | Arab Islamic Bank | Yes | Banking |
PalPay Mahfazati (My Wallet)
- Electronic wallet
- No bank account required
- Pay to Friend
- Pay to Merchant
- Cash out
- Bills payment
- Mobile top-up
- Gift cards
Banky App
- Bank of Palestine mobile banking
- QR CODE payments
- Direct purchase payments
- Secure standards
E-Commerce Support
- QR service for online merchants
- Mahfazati wallet payments
- Simplified payment process
- No traditional methods needed
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| Bank of Palestine QR | Unified QR | Multi-app | 6K+ POS | — |
| PalPay Mahfazati | E-wallet | PMA | Active | — |
| SoftPOS | Smartphone | NFC/QR | Active | — |
Sources
- Bank of Palestine - QR Launch
- App Store - PalPay Mahfazati
- Arab Islamic Bank - QR Service
- PalPay - Our Services
- Bank of Palestine - PalPay Partnership
- Bank of Palestine - SoftPOS
- Bank of Palestine News
- Bank of Palestine - QR Payment
- Arab Bank - PalPay Service
- Google Play - PalPay Mahfazati
Full country report
Schemes
Standards
Primary · 1
Mentioned · 2