JoPACC Releases Its 2024 Payments Systems Report

The Jordan Payments and Clearing Company (JoPACC) has released its 2024 Payments Systems Report, highlighting another year of significant growth in digital payments across Jordan. The report presents substantial increases in transaction volumes, values, and user adoption of JoPACC systems, reinforcing the ongoing shift towards a more digital financial ecosystem.

The report reveals that total transactions processed through JoPACC’s systems increased by 77.2% in 2024, reaching 224.62 million transactions, compared to 126.87 million in 2023. The total value of transactions grew by 15.3% to 79.95 billion JOD, reflecting increased adoption of digital payment services across various sectors. Despite the growth in value, the average transaction value declined by 34.9% to 355.9 JOD, indicating a stronger preference for digital payments for smaller-value transactions.

Instant payments continued to expand in 2024, with CliQ transactions experiencing a 178% increase in volume, reaching 83.95 million transactions, and a 136.6% increase in value, totaling 12.1 billion JOD. The number of registered CliQ users also saw a notable rise of 41.2%, reaching 1.67 million. JoMoPay transactions doubled compared to the previous year, with a 113.4% increase in volume to 56.79 million transactions and a 67.5% rise in total value to 5.23 billion JOD. The continued growth of these systems highlights the increasing reliance on instant digital payments in everyday transactions.

Digital financial inclusion continued to improve, with mobile wallet users reaching 2.59 million by the end of 2024. The percentage of female mobile wallet users increased to 48.8%, reflecting ongoing efforts to promote gender inclusivity in financial services. The instant payments user base also grew by 21.6%, reaching 3.48 million users, with significant adoption among both bank account holders and mobile wallet users.
Automated Clearing House (ACH) transactions recorded steady growth, with JOD- transactions increasing by 6% and USD transactions rising by 8.5%. eFAWATEERcom transactions experienced the highest growth in three years, reaching 66.07 million transactions, an increase of 25.6% from 2023, with a total value of 13.19 billion JOD. The majority of these transactions, approximately 79%, were conducted digitally, reflecting the ongoing shift away from cash-based payments.

Cheque transactions remained a key component of Jordan’s payment landscape, with 6.51 million cheques processed through the ECCU system, amounting to a total value of 40.3 billion JOD. The percentage of returned cheques declined to 3.4% of total transactions, suggesting improved financial discipline in cheque-based payments.

The findings of the 2024 Payments Systems Report underscore Jordan’s progress toward a more efficient and inclusive digital payments ecosystem. The increasing adoption of instant payments highlights the positive impact of JoPACC’s effortd to enhance the security, accessibility, and efficiency of financial transactions. JoPACC remains committed to further developing and expanding digital payment solutions that cater to the evolving needs of individuals, businesses, and financial institutions.

The full report is available for download here