JoMoPay - Mobile Payment Service
National Switching for Mobile Payment
Jordan Mobile Payment (JoMoPay) system is an electronic system operated and oversaw by the Central Bank of Jordan in which banks, companies, and beneficiaries of the service are registered for the purposes of exchanging financial transactions. Through this system, the net clearing position is worked out and debited to the accounts of banks by the use of Real Time Gross Settlement system (RTGS).
JoMoPay was officially launched on the 1st of April 2014 as a result of the radical change occurred on payment services through mobile in terms of saving or maintaining small financial values, transferring them to others to fulfill financial requirements through electronic wallets (e-wallet) within any of the licensed Payment Service Providers (PSPs). The system provides a new and safe mean for immediate electronic payment as it enables a user to use her/his mobile device to transfer payments of small values including paying bills, transferring from one person to another, and paying for purchases directly. Accordingly, the system reduces the need for dealing in paper money and coins and minimizing the risks of cash handling.
JoMoPay hugely benefits segments of citizens who are financially-excluded because of their geographical location and the lack of availability of banking networks in their areas or for the limitation and small value of their funds (low income) and thus they are not able to open accounts in the operating banks.
The Central Bank of Jordan worked in an interoperable manner between payment systems in general and retail payment in particular to facilitate and accelerate the process of carrying out and accepting payment operations which would be reflected positively on all participants of retail payment of final users such as beneficiaries, consumers, merchants, government institutions, and others.
JoMoPay operates and facilitates the below services:
Fund transfer through e-wallets:
JoMoPay allows interoperable, instant and efficient fund transfer between customers with e-wallet accounts by different providers (inter-PSP transfers), where customers can be businesses with “Business” or “Merchant” wallets or individuals with “Personal” wallets. Payments can be done between and among all types; individuals can transfer money to businesses rather than using cash for service or product payments as an example, while businesses can transfer salaries directly to the individuals’ wallets without the need to hand out cash. JoMoPay has set different limit thresholds for transfer transactions’ amounts based on the wallet and transaction type to limit fraud or money laundry risks.
Payment through Point of Sales (POS) devices using Near Field Communication (NFC) Technology:
In order to facilitate payment operations for citizens and collect revenues owed to institutions in public and private sectors at the lowest cost with immediate transfer speeds and high efficiency, and in order to progress from a paper-based society to a cashless society; the Central Bank of Jordan has worked towards making mobile electronic payments available through the use of NFC technology.
This service is provided through POS for merchants, government and private institutions, in addition to means of public transportation that serves citizens across the kingdom. This service was enabled to facilitate the mobile payment operations after the Central Bank of Jordan imposed the NFC standard for the implementation of this technology.
ATM Cash Out Operations:
Cash-out through the ATM is a basic function that provides liquidity on daily basis for banked customers.
Based on Central Bank of Jordan’s vision regarding the diversity in payment channels in the kingdom to fulfill the citizens’ needs at any time and any place, and in order to receive cash out services by those who have bank accounts or those who don’t have banking accounts and use their e-wallets, the Central Bank of Jordan developed this service by connecting all ATMs operating in the kingdom with a mobile payment system directly or through the JoNet network – a local network that manages and connects all ATMs in the kingdom.
This service allows users to conduct cash out operations from their e-wallet accounts from any ATM machine within the widely-spread ATM network all over the kingdom.
Connection with Electronic Bill Presentment and Payment System (eFAWATEERcom):
Connecting JoMoPay with eFAWATEERcom aims at allowing citizens to electronically inquire about their bill values, along with other inquiry options using their e-wallet accounts. In addition to inquiring, payments to billers can be made through the e-wallet accounts, which provides ease of access and payment to all billers via this connection.
Mobile payment through the use of USSD messages technology:
In order to provide accessibility to mobile financial services to citizens all over the kingdom, regardless of their place of residence and for the purpose of enhancing the financial inclusion in the kingdom through increasing the consistent availability of mobile financial services for all – despite smart phone ownership or traditional phones; the Central Bank of Jordan has been developing mobile financial services following a unified method for all financial operations and for all citizens through the use of USSD Messages technology, which is considered a relatively safe approach.
The USSD service allows citizens owning traditional phones to carry out a number of financial services electronically such as cash out from ATMs and transferring money using their mobile phones digitally.