First International Bank Launches a New Digital Wallet Service: FibiPay

TEL AVIV, Israel, Feb. 17, 2021 /PRNewswire/ -- First International Bank of Israel (TASE: FIBI) one of Israel's major banking groups, today announced the launch of a new payment service: digital wallet - FibiPay.

The digital wallet allows the Bank's customers to make payments directly from their mobile phone when making a purchase without the need to present a credit card. FibiPay, currently supported by Android smartphones, allows customers to attach a credit card to their smartphone, directly from the bank app, in a simple and secure way, and make a mobile payment via tap, easily and quickly at the store.

The new service allows the use of the digital wallet at stores in Israel and internationally, by placing the mobile device near a marked NFC payment terminal that supports an EMV component.

The advantages of paying via FibiPay directly from the mobile device are many:

• Joining the service is free and is straight from the FIBI mobile app.
• Customers do not have to take a credit card anywhere and can pay from a mobile device without the need for a physical card
• No need to remember and type in a PIN code
• Place the mobile device near the terminal and pay without direct contact
• Customers do not need to give up the benefits of having the card – customers are able to view details of charges on the website and in the app, and at the same time, accumulate benefits

The service is currently available to customers with Visa credit cards and will soon also support Mastercard. The service is available to all FIBI customers and its other banking brands: Otzar Hachayal, Ubank and Pagi.

With the launch of the service, First International Bank CEO Smadar Barber-Tsadik commented, "the launch of FibiPay is a significant move for First International Bank, a competition generating bank that promotes leading solutions to its customers in the areas of payments, credit and capital markets."

Ron Grisaro, VP and Head of The Banking Division at First International Bank, stated, "FibiPay is an innovative and important development within our rich digital services' offerings. It allows our customers to enjoy an advanced digital wallet, along with other services that we recently launched such as digital pension consulting, account opening from the mobile phone, and advanced capabilities in the capital markets and investment."

About First International Bank Israel

The First International Bank of Israel (FIBI) is among Israel's five largest banking groups. FIBI Group provides a wide range of financial products and services to customers with the highest standards of professionalism and service. FIBI group includes the parent company, First International Bank, and its banking subsidiary in Israel- Massad Bank. Together, the group operate a network of 160 branches.

Contact

Dafna Zucker
First International Bank of Israel
e-mail: [email protected]  
Tel: 03 519 6224

Ehud Helft
GK Investor & Public Relations
e-mail: [email protected]   
Tel: 1 617 418 3096

SOURCE First International Bank of Israel