SHVA

SHVA, also known as the Israeli Credit Card Organization, is the entity responsible for the clearing and settlement of credit card transactions in Israel. It provides authorization, clearing, and funding services that enable banks, merchants, and cardholders to complete electronic payments. The organization operates the central infrastructure that routes transaction data between issuing banks, acquiring banks, and card networks. Its services are used by all major Israeli banks and a wide range of merchants across retail, hospitality, and e‑commerce sectors. SHVA functions as a non‑profit utility that ensures the interoperability of the country’s payment ecosystem. It is supervised by the Bank of Israel, which sets operational and security standards for the clearing house. The organization’s core mandate is to maintain the reliability and integrity of credit card payments nationwide.

SHVA is owned by a consortium of the largest Israeli banks, including Bank Hapoalim, Bank Leumi, Israel Discount Bank, and others, which collectively govern its operations through a shareholders’ agreement. This ownership structure aligns the clearing house’s interests with those of the banking sector and ensures stable funding for its technology platforms. The organization processes the majority of credit card transactions in the country, giving it a pivotal role in Israel’s financial infrastructure. Its distinguishing attributes include specialization in high‑volume, real‑time payment clearing and a strong focus on cybersecurity resilience. The incident on 13 February 2025, reported by Globes, illustrates how a cyberattack on SHVA’s systems disrupted credit card payment processing across Israel, highlighting the organization’s criticality to the national economy. No further details about subsidiaries or parent entities are publicly disclosed in the available sources.