Israel puts the brakes on cash to spur digital payments

2022.08.01 18:26

Israel puts the brakes on cash to spur digital payments

Authorities in Israel on Monday has in put in place further restrictions on cash payments as a means to combat illegal activity and spur digital payments in the country.

Since January 2019, Israeli businesses and consumers have been subject to limits on cash payments under the Law for the Reduction in the Use of Cash. It’s aimed at shifting the country’s citizens and businesses toward digital payments, allowing authorities to more easily track tax evasion, black market activity, and money laundering.

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