The Palestine Monetary Authority is a leader in the areas of technological transformation in Palestine, contributing to the preparation and leadership of national strategies in this regard, such as the National Strategy for the Development of Electronic Payment (2018-2023) and the National Strategy for Financial Inclusion (2018-2025) in collaboration with the Palestine Capital Market Authority, and is in the process of finalizing the Financial Technology Strategy. These strategies go hand in hand with accelerated technological developments and support the shift to technology in Palestine, particularly with regard to financial, banking, and e-payment services, and reducing reliance on cash payments to benefit the national economy as a whole.
The Palestine Monetary Authority is leading the efforts of stimulating and supporting the banking sector, in general, to move and adopt diversified electronic services and payments. It has developed and continues to develop its infrastructure and systems to keep pace with technological development and assist all groups involved. In the past, the PMA has supported the establishment and licensing of diversified payment service companies.
The PMA has also allowed the operation of the Apple-Pay wallet service in Palestine through banks. The application of the service depends on the bank and its readiness, so that it is issued to the customer of the shared bank and shipped through its bank account, and can be used for international and domestic purchases.
It's an electronic card issued by global companies like Visa and Master Card. The customer can buy through the selling points that deal with the company that issues the card worldwide, as well as through the Internet or through the ATMs that deal with the company. The credit card differs from the ATM card, as the credit card balance is a type of facility granted to the customer and the customer pays off a portion of the balance used monthly.
It is obtained by applying for an ATM card, and after obtaining the card, the customer can draw, deposit or inquire about its account balance through any ATM of the bank and at any time of the day, since there are two types of local ATM cards that are used only on bank ATMs that are the issuers of the card and international cards such as the Visa Electron.
Which can be used on any ATM or vending point in the world that deals with the issuer.