Discount's board of directors approved the bank's decision to purchase from Persal its share in Paybox

Discount's board of directors approved the bank's decision to purchase from Persal its share in Paybox for NIS 77 million and will become the sole owner of the company.
Shufercell's decision (which holds 49.9% of Paybox shares) to sell its share in the application was made against the background of the accumulated losses of the payments application, which ended 2023 with a loss of NIS 77.5 million, alongside a strategic decision by the network to focus on retail.
Avi Levy, CEO of the Discount Group, commented on the approval of the purchase and said that "Pybox's success in selling financial products in the last year and the fact that over 85% of its customers are customers of competing banks, make it a significant and attractive arm for the group; We are happy for the opportunity to return and own all of its shares and support its continued growth, with an emphasis on offering unique non-banking services"