We4G to enter mobile banking

We4G Hezi Bezalel Photo: Eyal Izhar

Mobile telephone company We4G will probably become the first mobile banking company in Israel by providing credit to its customers.

Mobile telephone company We4G will probably become the first mobile banking company in Israel by providing credit to its customers. Sources inform "Globes" that Hezi Bezalel, We4G's controlling shareholder, hired former Dun and Bradstreet Israel CEO Hayim Cohen to manage this activity.

Development of the app is in the advanced stages, as is assembly of the system that will manage the banking operation. The company that will probably provide the platform to We4G is Tarya, the leader in Israel in technologies for providing banking services via mobile phone, which is authorized to operate such a platform in Israel.

Already when We4G launched its mobile phone services a year ago, Bezalel said that mobile banking was one of the spheres he was tempted by. This sector is developing around the world at extraordinary speed, with mobile banking replacing and supplementing the credit card companies. In Asian countries, including China, mobile phones function as electronic wallets for all intents and purposes.

In Israel, Partner is trying to take the lead in the sector. As far as is known, Partner is still in the process of completing its entry, after failing to acquire credit card company Leumi Card and getting a cold shoulder from credit card companies in its attempt to found a customers club. Partner is also reportedly in touch with Tarya.

No response from Bezalel was available. Tarya said, "We do not publish any information about customers and cooperative business ventures."

Published by Globes, Israel business news - en.globes.co.il - on May 6, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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We4G Hezi Bezalel Photo: Eyal Izhar
We4G Hezi Bezalel Photo: Eyal Izhar
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