Two weeks after buying 20% of Leumi Card, the Azrieli group has confirmed that it is dismantling its partnership with Bank Hapoalim company IsraCard.
More to the point for consumers, Azrieli is terminating the Shopping customer club that it ran with IsraCard, and is building a new customer club with Leumi Card.
IsraCard began issuing Shopping credit cards seven years ago, to customers of Azrieli's shopping centers. Some 100,000 people now hold them, making them eligible to discounts of 5% to 10% in more than 400 stores in Azrieli's seven shopping centers in Israel.
IsraCard confirmed that it had received a request to end the alliance following Azrieli's purchase of Leumi Card, and assured consumers that it would issue holders "an alternative that suits their needs."
Leumi Card CEO Arie Heilweil confirmed that the story is accurate, adding that the company would be launching a new customer club with Azrieli.
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