Jordan sets new benchmark in realm of instant digital payments
Date
9/17/2024 7:52:17 AM
(MENAFN) Jordan has set a new benchmark in the realm of instant digital payments, with the total transaction value soaring to an unprecedented 19.2 billion dinars during the initial eight months of this year, as per the latest official statistics.
The Jordan Payment and Clearing Systems Company (Jopac) has unveiled its monthly report, showcasing a dramatic rise in the use of digital payment systems via smartphones. This represents an impressive 54% increase from the same period last year, when digital payments amounted to 12.5 billion dinars, marking a substantial growth of 6.66 billion dinars.
The report highlights that the "Click" system led the surge with transactions totaling 7.23 billion dinars, followed by "Jumobi" with 3.37 billion dinars. The "eFAWATEERcom" system emerged as the dominant player, contributing a significant 8.56 billion dinars to the total. Transactions through "Click" and "Jumobi" were predominantly used for money transfers, making up over 80% of their combined value. On the other hand, "eFAWATEERcom" was primarily utilized for government-related payments, including invoices for various governmental bodies and institutions.
In addition to the value of transactions, "Al-Ghad" monitoring has reported a record-breaking number of transactions across all digital payment platforms, totaling approximately 125.11 million transactions in the first eight months of the year. The transaction volumes were distributed as follows: "Click" processed around 16.1 million transactions, "Jumobi" handled over 15.4 million, and "eFAWATEERcom" managed approximately 33.5 million transactions.
This surge in digital payments is paralleled by a significant increase in the number of system users. The report indicates a growing preference for electronic payment solutions, driven by their convenience and efficiency. By the end of August, the "Click" system alone had registered around 1.52 million users, reflecting a broader trend towards the adoption of digital financial transactions among Jordanians.
This record-setting performance in instant digital payments underscores a major transformation in Jordan's financial sector, propelled by technological advancements and a growing consumer inclination towards digital financial solutions.
MENAFN17092024000045015687ID1108682372
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.