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Initial release | 2014 |
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Available in | Hebrew |
Website | www |
PayBox is an Israeli social payment application that facilitates peer-to-peer money transfers, group collections, and payments to businesses. Launched in 2014 by PayBox Ltd, the app was acquired by Israel Discount Bank in 2017 and has since operated as part of the Discount Group.
PayBox was founded in 2014 by Tal Greenberg (CEO), Udi Lieberman (VP Marketing), David Rahamim (VP Operations), and Amri Hefner (VP Technologies). The company developed a social payment network aimed at simplifying the execution and management of group payment processes. [1] In 2017, Israel Discount Bank acquired the rights to use the application in Israel, and it continued to operate under the bank's management. [2]
In 2020, PayBox Ltd, the original developer of the app, filed for liquidation due to financial difficulties. However, the application continued to operate normally in Israel under the management of Israel Discount Bank. [3] [4]
The service is free for users but has certain limits on transfer and accumulation amounts: [7]
In Israel, other payment applications operate, such as bit by Bank Hapoalim and Pepper Pay by Bank Leumi. These apps offer similar services for transferring funds between individuals and payments to businesses.