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Israel: Lack of debit cards seen as major problem for Antitrust Authority

 |  September 10, 2014

Israel’s Antitrust Authority released a report on the state of the nation’s credit card industry on Tuesday, reports say, and authorities are looking towards significant reforms.

The credit card market is plagued by significant structural and regulatory barriers, the Authority said. Regulators determined that boosting competition in the industry will solve some of these issues.

Among the watchdog’s top concerns is the high cost of debit cards. “We believe that the near absence of debit card transactions in Israel is a strong indication of the problematic competitive situation in this sector,” the report said.

The market report will be one of several to emerge in the coming months as per the recommendations of the 2011 Trajtenberg committee on economic and social reforms, reports say.

Full content: Haaretz

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