About
PayBox is an Israeli social payment application launched in 2014 by PayBox Payment Solutions Ltd. It facilitates instant peer-to-peer money transfers, group collections for shared expenses, and payments to businesses using QR codes or payment links. In May 2017, Israel Discount Bank acquired the rights to use the application in Israel, and it has since operated under the bank's management. The original company, PayBox Payment Solutions Ltd., filed for liquidation in 2020 due to financial difficulties, but the application continued to operate normally under Discount Bank. In 2022, PayBox launched a free digital credit card, enabling users to pay directly from their app balances. By 2023, PayBox began offering an annual interest rate of 3% on personal balances within the app. As of June 2024, Israel Discount Bank completed the buyout of Shufersal's 49.9% stake in PayBox for NIS 77 million (approximately $20.6 million USD), making PayBox wholly owned by Discount Bank. The platform has over 2.5 million registered users, with 1.5 million active monthly users.
Funding history · 5 rounds · $1.0M total
Team · 4
