Credit Card Payment In Israel For Business Owners

The Seven Factors To Consider As A Israeli Business Taking Credit Card Payments
In America, my company. Lchaim Foods uses Quickbooks Go Payment as its Credit Card processor. It is the most convenient tool since we are using QBO to invoice clients.
Each of these services would charge a monthly fee+ per transaction fee. A typical cost for the system would be 2.9% + $20per month subscription. The funds would typically be deposited over two business days.
While working with Israeli business clients in different fields, I have found that in Israel the following factors need to be considered.
1) Is there a  Monthly Subscription Fee for the service
2) Percentage of Each Transaction + fee for every time you charge the cards
3) The money is typically deposited once a month at the beginning of the month, which can lead to major cash flow challenges. Do you have the cash flow to wait?
4) Additionally, an added fee will be charged for currency conversion if a client is paying with $ account for a shekel priced item.
5) Is your industry covered through a payment processor? Some industries have a higher risk and therefore would not be covered by processors because they are worried about theft or chargebacks. Booking services and tourism, in general, are industries which are very risky.
6) If you charge for good that is to be delivered in the future, does the payment processor hold back some of the funds as collateral
7) If your online store is on a website like Shopify, does it allow the local Israeli store to take payment and do they charge an extra fee for that- Shopify does at up to 2% per transaction.
Follow Up articles on the subject.
Payoneer: A popular payment portal that is used by many Israeli businesses would follow the following pattern. It is integrated with Green Invoice a popular Israeli payment solution.
About the Author
Alex knows how to scale small businesses because he has done it. Before making Aliyah he established a seven figure ,social business that provided corporate catering to Silicon Valley's leading companies while offering transformative employment for individuals returning from prison. His work has been covered in major publications including Haaretz, Newsweek, and The San Francisco Chronicle. He has taught about value driven businesses in leading universities including Stanford, (Palo Alto, CA) EDHEC Business School (Nice, France) and Singularity University (Menlo Park, CA) Alex is a member of ROI Community, a graduate of Google's Dartmouth Business School in Digital Marketing, and Advisor For Indiebio, the world's largest seed biotech accelerator. In addition to being the owner of an active business in the states he has built a consulting practice for Olim entrepreneurs. The practice focuses on immersive coaching that drives the business owner to make the difficult choices that they have been avoiding.
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