Objectives and Alignment with Public Policy Objectives

Safety and Efficiency

Safety could be defined as the containment of the financial and non-financial risks that typically arise within the payment system or are transmitted by it, which threaten to impair the functioning of the system and/or the financial stability of the overall economy. Efficiency, on the other hand, is defined as the resources required by a payment system to perform its function, where increasing the efficiency will reduce costs and increase the speed of processing higher volumes of transactions. 
The CBJ, through its oversight function, ensures the safety and efficiency of the national payment system in Jordan. JoPACC has aligned itself with the CBJ's commitment to this by emphasizing safety and efficiency in its strategy. In addition, JoPACC has adopted the PFMIs as a central tenant of its Risk Management Framework. The PFMIs lay particular emphasis on the safety and efficiency of payment systems.

Financial Inclusion

The National Financial Inclusion Strategy (2018-2020) crystalized the CBJ commitment towards Financial Inclusion as a public policy objective. JoPACC's strategy for the years 2019-2022 emphasized the importance of the NFIS and highlighted its objectives as core guiding principles for JoPACC. Given this emphasis on financial inclusion in JoPACC's strategy, its interventions will be anchored in the high-level goal of an inclusive and digital economy. 

Market Competitiveness and Representation

The World Bank's Governance of Payment Systems report emphasized the importance of market competitiveness in the overall governance of a national payment system. This responsibility often lies with financial market regulators. JoPACC is a private sector entity jointly owned by the CBJ and the commercial banks operating in Jordan. Its decision-making body (the Board of Directors) represents the interests of the public sector (through the Central Bank of Jordan) and the private sector (the commercial banks). As a result, JoPACC's operations are geared towards increasing the private sector's competitiveness and attractiveness on a regional scale. 


Interoperability is an integral objective that has synergies with many other hallmarks of a healthy and prospering digital payments infrastructure. JoPACC strives towards increasing interoperability across the Jordanian payments market. It aims to do this through the standardization of payment instruments and integration of payment infrastructure where possible. In its vision towards a digital economy, JoPACC views interoperability as a key stepping-stone. 


Introducing and developing digital financial infrastructure would be futile were it not for sustainability. JoPACC's governance arrangements are geared towards ensuring the sustainability of JoPACC and its interventions. JoPACC engages in self-assessments and evaluations to measure and evaluate the sustainability and success of its intervention, reincorporating the lessons learned into its future operations and procedures.  


Payment systems need to be reliable. Hence, JoPACC's governance, internal processes and procedures, organizational structure, and strategic objectives emphasize increasing the reliability of payment systems in the local market. We do this by offering 24/7 support to participants to extend these services to their clients.