# PalPay QR

> Source: https://docs.barcoder.ai/docs/standards/palpay-qr
> research date 2026-05-29 · extracted at 2026-10-06
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [PalPay — official](https://www.palpay.ps/en)
- [PalPay Mahfazti launch — PMA](https://www.pma.ps/en/Media/Press-Releases/under-the-auspices-and-participation-of-his-excellency-the-governor-of-palestine-monetary-authority-palpay-launches-e-wallet-my-wallet)

## Overview

**PalPay Mahfazti** ("My Wallet") is **Palestine's leading mobile-wallet platform**, operated by **PalPay in partnership with Bank of Palestine** under **Palestine Monetary Authority (PMA) licensing** <sup>[1][1], [2][2], [Palestine, State of report](https://docs.barcoder.ai/docs/payments/PS)</sup>. PalPay was **established 2010** and over 10 years built up **a vast network of 7,000+ electronic Points of Sale** across the West Bank + Gaza Strip — making it one of the most-densely-deployed payment-acceptance networks per capita in the MENA region. The structural distinction: **PalPay Mahfazti enables comprehensive payment services without requiring users to open bank accounts** — critical for Palestine's mass-market financial inclusion where formal banking is limited.

The platform's feature set is comprehensive: **transfer + receive money, pay merchants via QR codes, settle bills, shop locally, request physical or virtual Visa cards, apply for microloans, purchase digital cards**. **PalPay signed a contract with Visa International** for the Mahfazti service + Visa cards usable **locally and internationally** — bringing Palestinian wallet users into global payment-network reach. **Launch was under the auspices of the PMA Governor** — illustrating high-level state endorsement. **World Bank's December 2024 publication on West Bank + Gaza digital inclusion** specifically highlighted PalPay as a key e-payment infrastructure enabling Palestinian economic growth. Given Palestine's structural-economic-context (limited banking, occupation-related constraints, post-October-2023-conflict humanitarian crisis), PalPay represents critical-economic-infrastructure load-bearing for Palestinian commercial activity.

## History

**Background — Palestinian payment landscape** <sup>[Palestine, State of report](https://docs.barcoder.ai/docs/payments/PS)</sup>:
- **Palestine Monetary Authority (PMA)** — central-bank-equivalent.
- **Bank of Palestine (BOP)** — largest Palestinian commercial bank.
- Limited formal banking + complex regulatory environment.

**2010 — PalPay established** <sup>[1][1]</sup>:
- Mobile-payment company founded.
- 10-year growth period.

**Through 2020 — 7,000+ POS network built** <sup>[1][1]</sup>:
- One of MENA's densest payment-acceptance networks.

**Visa International contract** <sup>[2][2]</sup>:
- 6-year development partnership with Visa.
- Mahfazti service + Visa cards (local + international).

**PMA Mahfazti license + launch** <sup>[2][2]</sup>:
- PalPay + Bank of Palestine partnership.
- PMA Governor auspices.
- Comprehensive payment-service launch.

**World Bank December 2024 publication** [[wb]]:
- E-Payments as Pathway to Growth West Bank + Gaza.
- PalPay featured as digital-inclusion infrastructure.

**SoftPOS via Bank of Palestine** [[bop-softpos]]:
- Phone-as-POS-terminal extension.

## Technical specification

PalPay Mahfazti is **PMA-licensed Bank-of-Palestine-partnered comprehensive Palestinian mobile wallet** <sup>[1][1], [2][2]</sup>:

| Layer | Description |
|---|---|
| **Operator** | **PalPay** in partnership with **Bank of Palestine** |
| **Regulator** | **Palestine Monetary Authority (PMA)** |
| **Card-network partner** | **Visa International** |
| **Currency** | ILS (Israeli new shekel, used in Palestinian territories) + USD |
| **POS network** | **7,000+ electronic POS** across West Bank + Gaza |
| **Founded** | 2010 |
| **Account requirement** | **None** — works without bank account |
| **Services** | P2P transfer, QR merchant payment, bill settlement, local shopping, Visa cards (physical + virtual), microloans, digital cards |
| **International** | Visa-enabled international payment |

**6-year development with Visa** <sup>[2][2]</sup>:
- Visa International contract.
- Mahfazti service + Visa cards.

**No-bank-account requirement** <sup>[2][2]</sup>:
- Critical financial-inclusion feature.

**SoftPOS via Bank of Palestine** [[bop-softpos]]:
- Phone-as-POS for small merchants.

## Use cases

**P2P transfers** <sup>[2][2]</sup>: Cardinal use.

**Merchant QR payments** <sup>[2][2]</sup>: At 7,000+ POS network.

**Bill settlement** <sup>[2][2]</sup>: Utilities + services.

**Visa card issuance (physical + virtual)** <sup>[2][2]</sup>: Bridge to international Visa-network acceptance.

**Microloans** <sup>[2][2]</sup>: Financial-services-platform expansion.

**Digital-card purchases** <sup>[2][2]</sup>: Gift cards + similar products.

**International payment via Visa** <sup>[2][2]</sup>: Cross-border via Visa rails.

**Financial inclusion for unbanked Palestinians** <sup>[2][2]</sup>: Account-less access.

## Implementations & ecosystem

**Operator**: **PalPay** in partnership with **Bank of Palestine**.

**Regulator**: **Palestine Monetary Authority (PMA)**.

**Card-network partner**: **Visa International**.

**Bank-partner SoftPOS**: **Bank of Palestine**.

**POS network**: **7,000+ electronic POS** across West Bank + Gaza.

**Major Palestinian banks**: Bank of Palestine, Palestine Investment Bank, Arab Bank Palestine, Quds Bank, others.

## Fun facts

- **2010 founding**: 14+ year history.
- **7,000+ POS across small West Bank + Gaza territories**: One of MENA's densest payment-acceptance networks per capita.
- **No-bank-account-required**: Critical financial-inclusion design.
- **6-year Visa development**: Long-term Visa International partnership.
- **PMA Governor auspices**: High-level state endorsement.
- **World Bank December 2024 recognition**: Featured in international-development-finance publication.
- **Microloans + Visa virtual cards**: Comprehensive financial-services platform.
- **Continued operation through post-October-2023 humanitarian crisis**: Critical infrastructure for Palestinian commercial activity in challenging context.
- **"Mahfazti" = "My Wallet"** in Arabic — same naming pattern as Algeria's [Mahfathati](https://docs.barcoder.ai/docs/standards/mahfathati) ("My Wallet"), Sudan's [Bankak QR](https://docs.barcoder.ai/docs/standards/bankak-qr) ("Your Bank").

## Comparison

| Feature | PalPay (PS) | [Bankak QR](https://docs.barcoder.ai/docs/standards/bankak-qr) (SD) | [Fawry QR](https://docs.barcoder.ai/docs/standards/fawry-qr) (EG) | [D17 QR](https://docs.barcoder.ai/docs/standards/d17-qr) (TN) | [Mahfathati](https://docs.barcoder.ai/docs/standards/mahfathati) (DZ) |
|---|---|---|---|---|---|
| Operator | PalPay + Bank of Palestine | Bank of Khartoum | Fawry (EGX-listed) | La Poste Tunisienne | Algerian bank (TBD) |
| Founded | **2010** | 2014 | 2008 | 2019 | 2025 |
| POS network | **7,000+** | Limited | 60K+ | n/a | n/a |
| Card-network partner | **Visa International (6-year contract)** | Limited | Visa/MC/Meeza | Masterpass | n/a |
| No-bank-account required | **Yes** | Yes (BOK customers + app) | n/a | Postal-bank | n/a |
| Major use context | Financial inclusion + occupation-context | War-resilience | Mass-market platform | Postal-bank wallet | Interoperable on DZMobPay |

## Status

**Active, dominant Palestinian mobile wallet** <sup>[1][1], [2][2]</sup>:
- **PalPay + Bank of Palestine + PMA + Visa**.
- **Founded 2010**, 14+ year history.
- **7,000+ POS network**.
- **No-bank-account-required**.
- **Visa physical + virtual cards** (local + international).
- **Comprehensive financial-services platform**.

## Sources

[1]: https://www.palpay.ps/en "PalPay — official"
[2]: https://www.pma.ps/en/Media/Press-Releases/under-the-auspices-and-participation-of-his-excellency-the-governor-of-palestine-monetary-authority-palpay-launches-e-wallet-my-wallet "PalPay Mahfazti launch — PMA"
[wb]: https://www.worldbank.org/en/news/feature/2024/12/16/e-payments-as-a-pathway-to-growth-empowering-the-west-bank-and-gaza-through-digital-inclusion "E-Payments West Bank + Gaza — World Bank"
[bop-softpos]: https://bop.ps/en/personal/electronic-services/SoftPOS "Bank of Palestine SoftPOS"
[bop-news]: https://www.bop.ps/en/about/news/5 "PalPay + BOP partnership — Bank of Palestine"

- [1] [PalPay — official][1]
- [2] [PalPay Mahfazti launch — PMA][2]
- <sup>[Palestine, State of report](https://docs.barcoder.ai/docs/payments/PS)</sup> `reports/countries/PS-palestine.md`

## Deployments

_No country reports mention this standard by name._