Printer Friendly

Jordan : CENTRAL Bank of Jordan to allow banks and telcos to launch MOBILE WALLETS.

The Central Bank of Jordan will allow Jordanian banks and telcos to launch mobile wallets under its Jordan Mobile Payment project in March. Maha Bahou, the executive manager of the CBJ's payment services department said Jordanians will be able to use mobile wallets for withdrawing money from ATMs, bill payments and person-to-person or person-to-merchant transfers.

Consumers will not need either a smartphone or bank account to use the mobile wallets that will work with standard cellphones, and fund transfers will be possible from customers of one mobile operator to another. Jordanians and foreigners living in the Kingdom will be able to open mobile wallets at any of the country's mobile operators and their agents as well as at payment processors Middle East Payment Services and Emerging Markets Payments and at banks.

Jordan has a 155-percent mobile phone penetration rate and 75 percent of Jordanian adults do not have bank accounts. Mobile operators or companies that issue mobile wallets should abide by the CBJ's mobile payment regulations, and deposit collateral at the CBJ that is equivalent to the value of the e-wallets they want to issue.

Future JCB plans comprise facilitating benefit payments to e-wallets, NFC payments, and international transfers, Bahou added.

2014 Al Bawaba ( Provided by , an company
COPYRIGHT 2014 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Date:Jan 10, 2014
Previous Article:Italy : GMA inked between ROYAL AIR MAROC and ATR.
Next Article:Jordan : Partners discuss UNDP s US$166 million development response to crisis in Syria.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters