# Bit (Bank Hapoalim)

> Source: https://docs.barcoder.ai/docs/wallets/bit
> research date 2026-05-29 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Bit — Bank Hapoalim official](https://www.bankhapoalim.com/en/digital-banking/payment-applications/bit)

## Overview

**Bit** is **Israel's #1 P2P payment app + Bank Hapoalim digital wallet** <sup>[1][1], [2][2], [Israel report](https://docs.barcoder.ai/docs/payments/IL)</sup>. **2025 baseline**: **~3 million users in Israel** (~30% of Israeli population). Bit became **the leader in Israeli P2P-transfer apps** per **Israel Competition Authority July 2021** market research, position that strengthened over time.

**2025 fee structure** <sup>[3][3]</sup>:
- **January 2025 — Bank Hapoalim began charging 0.6% fee** on Bit transactions received **>NIS 25,000/year** per customer.
- **90% of users unaffected** (don't reach threshold); **6% use Bit on commercial basis**.

**2024 Bank of Israel approval** <sup>[4][4]</sup>: **BoI approved Bit's transformation into a digital wallet** — beyond P2P transfers to full digital-wallet functionality.

**Distinctive Bit positioning**: **Israel's first digital wallet** (Bank Hapoalim launched ahead of Apple Pay Israeli adoption); Bank Hapoalim = Israel's largest bank by assets.

## History

**2017 — Bit launches** <sup>[2][2]</sup> by **Bank Hapoalim** as Israel's first digital wallet + P2P payment app.

**2018-2024 — Mass Israeli adoption** <sup>[1][1]</sup>: Multi-million-user growth to leader status.

**July 2021 — Israel Competition Authority confirms Bit as Israeli P2P-transfer leader** <sup>[2][2]</sup>.

**2024 — BoI approval for Bit digital-wallet transformation** <sup>[4][4]</sup>.

**January 2025 — Bit started charging 0.6% on high-volume tx (>NIS 25K/year)** <sup>[3][3]</sup>.

**2025 — ~3M users in Israel** <sup>[1][1]</sup>.

## Ownership & operator

**Operating entity**: **Bank Hapoalim B.M.** (Israel's largest bank by assets).

**Parent**: **Bank Hapoalim B.M. (TASE: POLI)** — Israel's largest bank.

**Regulators**: **BoI (Bank of Israel)**.

## Technical integration

| Layer | Description |
|---|---|
| **Channels** | Bit mobile app (iOS + Android) |
| **Identifiers** | Phone + email + card number |
| **Israeli rail** | Israeli interbank-payment-rail integration |
| **License** | Bank (Bank Hapoalim-operated) + digital wallet (BoI 2024 approval) |
| **Sub-products** | Bit P2P transfers + digital wallet (post-2024 BoI approval) + Bit 4% annual deposit interest (announced 2025-2026) |
| **Cross-bank P2P** | Israeli customers from all banks can use Bit (not Hapoalim-exclusive) |
| **2025 fee structure** | 0.6% on tx received >NIS 25K/year per customer (90% users unaffected) |

## Users & growth

**2025 baseline** <sup>[1][1], [3][3]</sup>:
- **Users**: ~3 million (Israeli; ~30% of population)
- **Israeli P2P-transfer leader** (Israel Competition Authority July 2021 confirmation)
- **2025 fee structure**: 0.6% on tx >NIS 25K/year per customer (~90% users unaffected, 6% commercial use)

## Use cases

Israeli P2P transfers (cross-bank); digital-wallet payments (post-2024 BoI approval); 4% annual deposit interest (announced); commercial Bit use for businesses (6% of users; subject to 0.6% fee on tx >NIS 25K/year).

## Implementations & partners

**Operator**: **Bank Hapoalim B.M.** (Israel's largest bank).

**Major Israeli mobile-payment competitors**:
- **[Pepper / Pepper Pay (by Leumi)](https://docs.barcoder.ai/docs/wallets/pepper-pay)** (Bank Leumi digital + Pepper Pay)
- **PayBox** (FIBI / First International Bank of Israel)
- **MAX** (MAX It Finance / Discount Investment Corp)
- **Apple Pay Israel + Google Pay Israel** (Big-Tech rivals; Bit launched ahead in IL)

**Regulator**: **BoI (Bank of Israel)**.

## Fun facts

- **Israel's #1 P2P payment app** — ~3M users (~30% Israeli population, 2025).
- **2017 launch by Bank Hapoalim** — Israel's first digital wallet (ahead of Apple Pay Israeli adoption).
- **2024 BoI approval for digital-wallet transformation** beyond P2P.
- **January 2025 fee structure**: 0.6% on tx >NIS 25K/year per customer (90% users unaffected).
- **Cross-bank P2P** — Israeli customers from all banks can use Bit.
- **Bank Hapoalim (TASE: POLI) parent** = Israel's largest bank by assets.
- **4% annual deposit interest** announced (Bit deposit feature).

## Comparison

| Feature | Bit | [Pepper / Pepper Pay (by Leumi)](https://docs.barcoder.ai/docs/wallets/pepper-pay) (Bank Leumi rival) | PayBox (FIBI rival) | MAX (MAX It Finance rival) | [Bizum](https://docs.barcoder.ai/docs/standards/bizum) (ES bank-consortium analogous) |
|---|---|---|---|---|---|
| Operator | **Bank Hapoalim B.M. (TASE: POLI; IL's largest bank)** | Bank Leumi | First International Bank of Israel (FIBI) | MAX It Finance / Discount Investment Corp | Spanish bank consortium |
| Type | **IL #1 P2P + digital wallet (cross-bank); 2024 BoI digital-wallet approval** | IL digital bank + Pepper Pay | IL P2P (FIBI-anchored) | IL credit card + payment | Spanish bank-consortium A2A |
| Country | Israel | Israel | Israel | Israel | Spain |
| Users | **~3M IL (~30% population, 2025)** | Major Bank Leumi customers | Major IL | Major IL | National (>50% adults) |
| Distinctive | **Israel's first digital wallet (2017); 2024 BoI digital-wallet approval; 4% deposit interest; Jan 2025 0.6% fee on tx >NIS 25K/year (90% users unaffected); Hapoalim TASE: POLI IL's largest bank** | Bank Leumi digital arm | FIBI-anchored P2P | MAX-anchored credit | EuroPA EMPSA cross-border |

## Status

**Active, Israel's #1 P2P payment app + Bank Hapoalim digital wallet** <sup>[1][1], [3][3]</sup>:
- **Bank Hapoalim B.M. (TASE: POLI; IL's largest bank)** with Bit since 2017.
- **~3M users (Israeli; ~30% population, 2025)**.
- **Israeli P2P-transfer leader** (Israel Competition Authority confirmation).
- **2024 BoI approval for digital-wallet transformation**.
- **January 2025 fee structure**: 0.6% on tx >NIS 25K/year per customer.
- **BoI regulated**.

## Sources

[1]: https://i-aml.com/news/the-bank-of-israel-approves-the-payment-app-bit-turning-into-a-digital-wallet/ "BoI approves Bit digital wallet — i-AML Israel"
[2]: https://en.wikipedia.org/wiki/Bit_(payment_application) "Bit (payment application) — Wikipedia"
[3]: https://en.globes.co.il/en/article-hapoalim-reveals-bit-app-charges-from-january-1001494038 "Hapoalim Bit app charges Jan 2025 — Globes"
[4]: https://en.globes.co.il/en/article-hapoalims-bit-app-to-pay-4-annual-interest-on-deposits-1001525377 "Hapoalim Bit 4% deposit interest — Globes"
[il-cro]: https://docs.barcoder.ai/docs/payments/IL

- [1] [BoI approves Bit digital wallet — i-AML Israel][1]
- [2] [Bit (payment application) — Wikipedia][2]
- [3] [Hapoalim Bit app charges Jan 2025 — Globes][3]
- [4] [Hapoalim Bit 4% deposit interest — Globes][4]
- <sup>[Israel report](https://docs.barcoder.ai/docs/payments/IL)</sup> In-corpus: `reports/countries/IL-israel.md`

## Source

Biography extracted from [bit.md](https://docs.barcoder.ai/source/wallets/bit). See `matrix.md` for standards-support matrix if present.