Customers who do not have a smart phone can transfer money and withdraw money from ATMs using the secure messaging service USSD. After selecting the desired Electronic Voucher and desired store you can hear the Electronic Voucher price in Jordanian Dinars its details There is a long list of partners approved for charging e-wallets, from Exchange service stores, post offices, telecommunications companies, supermarkets and some mobile stores. View the full list here As of January 2019, the total number of Syrian refugees in Jordan stands at over 671,000. The majority of refugees (85%) live below the poverty line; nearly three quarters (73%) receive cash assistance; 40% rely exclusively on aid. According to a study conducted by GIZ and CGAP, financial inclusion of refugees is nearly nonexistent, while mobile phone penetration is widespread (85% SIM card penetration).

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This feature is still under development as ATM withdrawals are limited to Jordan Kuwait Bank and Cairo Amman Bank regardless if the user has a bank account, note that the withdrawal commission varies according to the service provider.Several mPSPs launchedinternational transfer services through mobilewallets by connecting with exchange houses so that the wallet holder can transfer money from their wallet to beneficiaries in a large number of countries . For inquiries about registered mobile wallets Partnerships are also happening between banks and fintechs. For example, Arab Bank has two initiatives that are focused on fintech collaboration, AB iHub and AB Accelerator. AB iHub builds rapid prototypes and uses fintech ecosystem collaborations and bootcamps to work directly with fintechs and individuals in the ecosystem. The AB Accelerator programme focuses on the adoption of emerging fintech technologies into Arab Bank’s infrastructure and network – as highlighted in a report by KPMG.

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The Central Bank of Jordan (CBJ)’s National Financial Inclusion Strategy 2018-2020 also aimed to “build on a set of priority policy areas, three of which form the core sectoral pillars: microfinance; digital financial services; and small and medium-sized enterprise finance. Four areas are considered as cross-cutting enablers that facilitate the development of industries and make them more robust: Financial technology; financial consumer protection and financial capabilities; data and research; and laws, regulations and instructions.”To improve its wider economic development, the Kingdom came up with Jordan 2025: A national vision and strategy. Through the assessment of sectoral challenges identified, the strategy provides initiatives amongst other things that will help the country accelerate its economic growth and development by 2025. Country profile of Jordan in the Fintech Times Fintech: Middle East and Africa 2021 Report by Richie Santosdiaz and The Fintech Times: SOURCE: The Fintech Times

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In the previous The Fintech Times Fintech: Middle East and Africa 2021 Report, we reported that Jordan, similar to much of the MEA region, has a very young population, where around 60 per cent of it is under 30 years old. Statistics have shown that Jordanians are often highly educated and are well connected with the world. Nevertheless, as is the case in other parts of MEA too, may have had to immigrate to seek better opportunities, as estimations suggest10 per cent of its citizens are abroad. Moreover, users can open two electronic wallets, provided that each one is linked to a different phone number as the e-wallet number is the same as the mobile number.

Earlier this year, Cairo Amman Bank built the neobank LINC. This new digital ‘bank for you’ offers a full suite of financial services like debit, credit, prepaid cards, international money transfers – to name a few of its perks.