Digital Payments in Jordan Workshop

JoPACC organized a workshop on digital payments in Jordan for the financial sector to introduce the systems it is in charge of the current projects it is endeavoring. The workshop started with a presentation on the different payment systems operating within the kingdom, and Jordan’s regional situation in terms of the financial system. The presentation also tackled the pricing policies on digital channels of payment, and the procedures aiming to encourage bank clients to adopt digital payment instruments. This segment concluded with addressing the developmental projects targeting the uptake and accessibility of digital payments, while putting emphasis on reducing costs incurred by such payments and increasing the security involved in them. The second segment of the workshop included a panel discussion, where a number of industry experts, financial technology experts and regulators discussed integral subjects associated with digital payments, such as the challenges facing the ecosystem, and Jordan’s exemplary efforts in developing the foundations and infrastructure for a digital economy. The discussion, which was highly interactive with the audience, focused on pricing policies and the importance of reducing fees placed on digital and electronic payments, and the perceived impact of transitioning to a digital economy.

Finally, a discussion between the panel and the attendees took place whereby recommendations to be relayed to the Central Bank were shared, and attendees were asked to fill out a survey distributed via QR code evaluating the session. Notably, the workshop was perceived as an essential channel of communication between the banks themselves, and with the Central Bank of Jordan, where the recommendations, concerns and perceptions of the Banks’ representatives were documented and communicated to the Central Bank of Jordan.