About ERN

Menora ERN, a fintech and credit company, was founded in 2001.

The company provides check guarantee services to many companies in Israel, as well as an advance payment (financing) service.

In addition, the company has two subsidiaries:

Menora ERN Financing with a Click: This subsidiary provides loans to consumers at businesses across diverse industries, such as automotive and motorcycle dealerships, electronics and furniture stores, medical clinics, and more.
Menora ERN (Rentals): This subsidiary provides rent guarantee and full financing services for property owners.

Menora ERN was founded with the goal and intention of finding a solution to a significant problem in the business world: returned checks. In doing so, the company aimed to provide Israeli businesses with financial stability and business security, as well as to offer their customers added value and a convenient payment option beyond their credit limits.

The company has grown and become a leader in the field of payment guarantees for various payment methods. Initially focusing on check guarantees, it later expanded to digital standing order guarantees at businesses, and eventually to consumer loans at points of sale. The Menora ERN group continues to grow and develop its payment guarantees and financing solutions practice in Israel for both individuals and businesses.

The Menora ERN group employs approximately 250 people and provides its services throughout the country in over 13,000 points of sale.

Key Figures

31% of payments in Israel are made by check.
43% of payments are made by standing order.
In 2024, Menora ERN provided check guarantee services totaling approximately NIS 5 billion.
In 2024, Menora ERN provided guarantees for standing orders totaling approximately NIS 1.5 billion.

Make the Right Choice – Menora ERN

Menora ERN is a company with extensive experience in the fintech, off-bank credit, loans, and financing solutions sectors. It is 70% owned by Menora Mivtachim, one of Israel’s largest insurance companies.

Menora ERN allows consumers to make payments easily and conveniently using checks and standing orders, spread over installments without interest and without relying on credit limits set by banks and credit card companies.

Menora ERN provides a significant advantage to business owners by offering diverse solutions for consumers and guaranteeing payment. This helps increase the shopping basket, thereby boosting sales turnover and expanding businesses’ customer base.

Menora ERN’s advanced computer system allows businesses to easily and conveniently monitor their payment activity at all times.

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The payment methods industry in Israel

About 38% of the payments are made through standing orders, when in 2021 the scope of payments by standing orders was NIS 894,378 billion

* The data shown in the above schematic is taken from the following sources: Data about the use of credit cards was taken from financial statements of the credit card companies; data about the use of checks was taken from data published by the bank of Israel, Table K5 – Obligations of the Public’s Current Accounts; data about the use of cash was taken from data published by the Bank of Israel, Table K5 – Obligations of the Public’s Current Accounts; data about the use of obligation by authorization was taken from data published by the Bank of Israel, Table 11 – Value of Movements on Selected Payment Systems and from data provided by the Bank Clearing Center.

The ability of the consumer (a client of the business) to make payments at businesses using checks and using a standing order allows them to increase the scope of its payments beyond the monthly credit limit set for them by the bank and by credit card companies.

Business owners also gain significant benefits by providing the consumer with the option of paying by checks – increasing the business’s sales turnover by expanding the circle of clients and augmenting the scope of sales to current clients.

Over the years, the company has expanded the diversity of its services and product, and today it offers Israeli businesses a set of services in the field of non-credit-card payment methods.

The company’s extensive knowledge and experience, along with a financial risk management model developed by it, allow it to conduct a computerized review of hundreds of parameters within seconds. The company’s services reduce the financial risk borne by the business.

The company’s services

"Check Plus” service

Under this service, the company provides businesses with a payment obligation service for checks paid to businesses by consumers, subject to the approval of the check by the company and to the service agreement. Under this service, the business obtains approval of the transactions paid to by clients using checks, and when the check’s due date arrives the business deposits the check in the business’s bank account. If the check bounces, the company credits the business subject to its entitlement under the agreement between the company and the business. The service effectively reduces the financial risk posed to the business by the receipt of payments made using checks.

“Standing Order Plus” service

Under this service, the company provides businesses with an obligation for the payment of standing orders made by the businesses’ clients. The company provides this service to businesses wishing to receive payments from their clients by means of an account debit order, in a predetermined amount and under a predetermined payment plan. The service is provided on the date on which the transaction is made, by means of a system developed by the company and integrated into the business’s systems.

“Credit Management Plus” service

Under this service, the company provides businesses with a payment obligation for a debt recorded in an invoice. If the invoice’s due date has arrived and no payment has been received for it, the company credits the business for such debt, against assignment of the rights to the company in an invoice and subject to the business’s entitlement and pursuant to the rates to which it is entitled under the agreement made with it.

“Financing Plus” service

Under this service, the company provides businesses with a check payment acceleration service (check discount). The service is additional and complementary to the Check Plus service and is provided for checks approved as part of that service.

“Standing Order Financing” service

Under this service, the company provides businesses with a payment acceleration service for payments made by standing order, so that the company pays the business the full consideration for purchasing the business’s rights in the standing order’s subject transaction (as provided in the service agreement), in a single payment rather than in installments.

Consumer loan provision services – mimun bclick

Under this service, the company provides consumer loans for the purpose of purchasing a product or service, to clients of businesses at such businesses’ points of sale. The loans are provided for the purpose of making transactions in various fields, such as purchases of cars (second-hand or zero-kilometer), motorbikes, heavy equipment, medical instruments, and so forth. The services are provided by Loan4u Ltd. Co.

* All the above is pursuant and subject to the service agreement

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