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The mobile wallet is an electronic financial account accessed through an application on smartphones and is linked to a unique account number.

Jordan’s Fintech Landscape in 2022 The Kingdom of Jordan’s Fintech Landscape in 2022

In theory, it all sounds so straightforward: Leveraging the high penetration of mobile phones to extend financial services among unbanked Jordanians and refugees. Lack of funds and use cases: The report finds that whatever cash assistance refugees receive is spent almost entirely on meeting daily needs, leaving no extra funds to deposit into a separate account.Social media and advertising cookies of third parties are used to offer you social media functionalities and personalised ads. The pattern of black boxes consists of unique data which enhances the reliability of the QR code payments. The majority of refugees (85%) live below the poverty line; nearly three quarters (73%) receive cash assistance; 40% rely exclusively on aid. To note, a big part of Jordan’s fintech ecosystem development was the CBJ creating the Jordan Payments and Clearing Company (JoPaCC), which helps develop digital payment systems and invest in innovative technologies. Mobile wallet users can make instant transfers to bank account users using JoMoPay, and bank account users can make instant transfers to mobile wallets using CliQ.

Jordan Wallet - Etsy UK Jordan Wallet - Etsy UK

The painter, photographer and designer is best-known for his use of primary colours, as well as his illustrations of mummified objects and people. The technology uses a smart sticker for remote payments, the wearable watch, or the electronic wallet card issued by the service provider. 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. In Jordan, as highlighted by Tufts University, the government has promoted the use of electronic financial accounts through mobile wallets.Payments can be done between and among all types; individuals can transfer money to businesses rather than using cash for service or product payments as an example, while businesses can transfer salaries directly to the individuals’ wallets without the need to hand out cash. All mobile wallet providers have launched a QR code payment acceptance service formerchants, whereby the merchant issues a QR code on their device that reflects the value of the required amount . Some of those include a pilot by GIZ and Zain Cash to distribute payments under the ‘Cash for Work’ programme has been implemented in Fifa, Azraq, Dibeen, Ajloun, and Yarmouk. Users can open an electronic wallet free of charge without depositing any minimum amount through one of the above-mentioned service providers.