JoPACC and JEDCO Have Joined Forces to Promote Public-Private Fintech Collaborations Through JOIN Fincubator Programs
To expand collaboration between the public and private sectors in Jordan in the fintech industry, the Jordan Payments and Clearing Company (JoPACC), represented by its CEO, Ms. Maha Bahou, and The Jordan Enterprise Development Cooperation (JEDCO), represented by its CEO, Mr. Abedfattah Al- Kayed, have signed a memorandum of understanding (MoU). This MoU aims to enable exchange with various economic sectors in the country through JoPACC's JOIN Fincubator to develop innovative digital financial solutions that contribute to overcoming financial and banking obstacles faced by startups. It further aims to bring both entities together to design and lead fintech programs that benefit MSMEs in the kingdom.
This MoU comes to provide JEDCO's stakeholders and target audience with fintech-related consultations and training, in addition to offering workshops that introduce them to JOIN and its services, providing them the opportunity to participate in its various programs.
JoPACC is the operator of various payment systems and digital financial solutions and serves as a knowledge and business analytics hub in the financial sector to foster financial inclusion within the country. Furthermore, JoPACC has recently established JOIN Fincubator in cooperation with the Central Bank of Jordan to empower fintech innovators and entrepreneurs and offer them a space that will help them refine, validate, test, and launch their fintech ideas and solutions in a step to expedite transformation to a digital economy and sustainable financial inclusion.
The Jordan Enterprise Development Corporation (JEDCO) acts as a government shield to support the private sector, aiming to give it a competitive advantage at a global level and implement development programs that serve multiple sectors and provide technical and financial support to small and medium startups to ensure their growth and sustainability.
The cooperation agreement signed between the two institutions will embody the concept of partnership and communication between the public and private sectors to advance Jordan's future and equip its startups with advanced fintech solutions, which will ultimately contribute to a green economy and sustainable financial inclusion.