Nike - Jordan tri-fold col 023 9A0325

Product Information

Of those, some 670,000 are from Syria, making Jordan the number two host of Syrian refugees per capita globally behind Lebanon. The system largely benefits population segments who are financially excluded because of their geographical location and the lack of availability of banking networks in their areas orthe limitation of low funds, which hinders them from opening and sustaining bank accounts . Nevertheless, as is the case in other parts of MEA too, may have had to immigrate to seek better opportunities, as estimations suggest10 per cent of its citizens are abroad. In the previous The Fintech Times Fintech: Middle East and Africa 2021 Report, we reported that Jordan, similar to much of the MEA region, has a very young population, where around 60 per cent of it is under 30 years old.

Jordan Electronic Payment Service | Orange Jordan

The AB Accelerator programme focuses on the adoption of emerging fintech technologies into Arab Bank’s infrastructure and network – as highlighted in a report by KPMG. Mobilizing humanitarian agencies to disburse funds through mobile wallets could allow beneficiaries to perform financial transactions such as person-to-person- or bill payments through their mobile phones. The Central Bank of Jordan (CBJ)’s National Financial Inclusion Strategy 2018-2020 also aimed to “build on a set of priority policy areas, three of which form the core sectoral pillars: microfinance; digital financial services; and small and medium-sized enterprise finance. Regulations by the Central Bank of Jordan (CBJ) allow refugees to open a wallet with their UNHCR asylum seeker certificate, in combination with their Ministry of the Interior (MOI) issued card.This high demand brought up the number of e-wallets activated during March and April to 443,095 wallets. There are no extra charges on any of the e-wallet services provided that the withdrawal is made from the Jordan Kuwait Bank ATMs. Statistics have shown that Jordanians are often highly educated and are well connected with the world. In Jordan, as highlighted by Tufts University, the government has promoted the use of electronic financial accounts through mobile wallets.

JoMoPay - Mobile Payment Switch - JOPACC JoMoPay - Mobile Payment Switch - JOPACC

Through this upgrade, instant transactions between JoMoPay and JoPACC’s instant payment system, CliQ, which adopts the same ISO 20022 standard, havebecome possible. According to the same report, only 33 per cent of adults in Jordan, and 27 per cent of women, were financially included in terms of account ownership. Only a smartphone with a camera is required in addition to a QR code which is either printed or in the electronic form. Security: Making payments through QR codes is very secure since QR code is a tool that is used to exchange information.

QR (Quick Response) Code is a new digital payment method provided by Orange Money, a type of matrix barcode which securely allows for encoding of data that are machine-readable, meaning they can be read by most smartphone cameras. when reaching the cashier, your purchases will be calculated and then entering the total on a device, and then creating a QR code, after that through Orange Money application on the mobile press on “Transactions by QR code” and scan the QR code on the cashier device and then The required amount will appear on the mobile with full transaction details for approval and completion of the purchase. Besides the expanded transfer features and services, both bank and mobile wallet clients can make instant payments to merchants. To maximize access, JoPACC worked with some national institutions to activate their role as agents, one of which is the Jordan Post Company that began providing agent services in a number of its branches in the Kingdom .