JoMoPay - Mobile Payment Service
National Switching for Mobile Payment
Jordan Mobile Payment (JoMoPay) system is an electronic system, operated by JoPACC, for payments and financial services that are offered through mobile wallets. Banks, companies, and beneficiaries of the service are registered in the system for the purpose 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 that occurred on payment services through mobiles. Through mobile wallets (e-wallet) offered by licensed Payment Service Providers (PSPs), it is possible to save or maintain small financial values, and to transfer them to others. The system provides a new and safe means for immediate electronic payments and enables users to use their mobile devices 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 cash and minimizes its risks.
JoMoPay hugely benefits population segments who are financially-excluded because of their geographical location and the lack of availability of banking networks in their areas or because of the limitation of low funds (low income), which hinders them from opening and sustaining accounts in banks.
The Central Bank of Jordan follows an interoperable approach between payment systems in general and retail payment, in particular, to facilitate and accelerate the process of carrying out and accepting payment operations. This approach reflects positively on all participants of retail payment 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 reduce 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 a daily basis to banked customers. Based on the 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 with a mobile payment system directly or through the JoNet network – a local network that manages and connects all ATMs in Jordan. 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 access to mobile financial services to citizens all over the country, 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 smartphone 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.