Instant digital payment system in Jordan witnesses extraordinary rise in demand
Date
6/26/2024 7:13:59 AM
(MENAFN) The "Click" instant digital payment system in Jordan has seen an extraordinary rise in demand, providing significant benefits for both personal and professional transactions. The "push of a button" money transfer service, in particular, has gained widespread popularity. Recent official data indicates that the value of transactions through the system has increased about twelvefold over the past two years.
Recent figures show that the "Click" electronic instant payment system hit a record high in May, with transaction values reaching approximately 923 million dinars. This is the highest monthly transaction volume since the system was introduced four years ago. According to monthly reports from the Jordan Payment and Clearing Systems Company (JoPAC), analyzed by Al-Ghad, the value of digital payments through "Click" in May 2022 was about 74 million dinars. This comparison underscores a dramatic rise in usage.
The surge in "Click" system usage coincides with banks considering the implementation of commission fees for the service. While this idea is still under review, no definitive decision has been made. The service has been free for users for the past four years.
JoPAC’s official report reveals that the "Money Transfer" service via Click accounted for 83% of the total payment value in May, amounting to around 765 million dinars. The "purchases" service made up 17% of the total payment value, which is about 158 million dinars.
In terms of transaction numbers, the "Click" system processed a total of 6.32 million transactions in May. This represents an impressive increase, about sixteen times the number of transactions recorded in May 2022, which was approximately 396,000.
The rapid growth of the "Click" system highlights the rising reliance on digital payment methods in Jordan. It demonstrates the system's crucial role in enabling efficient and convenient financial transactions for both individuals and businesses.
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