Israeli supermarket chain Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI), through its Rami Levy Finances unit, has submitted a new request to the Israel Securities Authority to consolidate its financial arm.
Two years ago, Levy’s financial arm applied to the Capital Market, insurance and Savings Authority for a financial services provider license. This step is still being examined by the Authority, as it is a procedural process that often takes a long time. However, Levy wants to expedite the process and recently decided to split the process and submit an additional application to the Israel Securities Authority for a license to provide payment services.
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A payment services provider license will allow Rami Levy to establish digital current accounts. As long as the two regulatory processes, which are still pending review, are completed, Levy’s financial company will be able to launch financial activity in which it will provide consumer loans to the public and will also be able to manage a kind of digital bank account as a payment provider.
All of these processes may later allow Levy to submit an application to the Bank of Israel for permission to manage a small bank (with assets on its balance sheet of up to NIS 50 billion). This is a process that may take several years, until the necessary permits and licenses are obtained, with obtaining approval from the Bank of Israel – a future and later step – being the more complex process. The process, which is characterized by a personal examination of Levy’s activity and identity, could last for a protracted period.
Approval of a payment service provider from the Israel Securities Authority was submitted last July. The Authority has to date granted licenses to four fintech companies, at the end of a long regulatory process that included legislation in the Knesset, which was initiated by the previous chair of the Authority, Anat Guetta, and was finally completed under the tenure of the current chairman, Seffy Zinger.
If the process is successfully completed, Levy will be able to issue means of payment to the public through his company, perform clearing operations and offer account management that is essentially similar to a bank checking account. This involves managing a kind of digital wallet into which, for example, monthly salaries can be deposited, and the money can be spent via credit cards or withdrawn as cash.
Published by Globes, Israel business news – en.globes.co.il – on January 14, 2026.
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