JoPACC and GIZ launch the MEDAL Facility to expand the network of merchants accepting digital payments and to increase digital liquidity
In partnership with the German Development Cooperation (GIZ) project, Digittances, JoPACC launches a program to expand the network of merchants accepting digital payments and to increase digital liquidity. The program, called the MEDAL Facility (Merchant Expansion through Digital Acceptance and Liquidity) and funded by the German Development Cooperation and implemented by JoPACC, aims to catalyze efforts to increase digital liquidity and increase its use by mobile wallet customers in payments to merchants. The program will support two licensed mobile payment service providers to increase the acceptance of payment via the QR code by merchants in Jordan, enabling interoperability between different types of wallets.
JoPACC’s partnership with GIZ, which is a strategic partner in the digital financial services market, comes in line with JoPACC’s strategy, with one of its pillars focusing on increasing the acceptance and use of digital financial services and enhancing their channels to ensure access to all segments of the Jordanian society and increase financial inclusion in the Kingdom.
To implement the program, applications for participation from mobile payment service providers will be accepted, and two will be selected based on predefined criteria. In addition to allowing and encouraging the acceptance of payment via the QR code through mobile wallets, the program includes increasing awareness of QR code payments and marketing it throughout the Kingdom, targeting, in particular, those who are financially excluded.
Early last year, JoPACC launched the criteria for accepting QR code payments in cooperation with the Central Bank of Jordan and the financial sector and encouraged companies that provide mobile payment services to launch the service, which is now provided by all seven mobile wallet companies.