In continuation of the evolution of the Jordanian payments ecosystem and following the ambitious and gradual ascend towards a globally recognized and attractive financial sector, JoPACC has completed the upgrade of the Jordan Mobile Payments (JoMoPay) Switch to the ISO 20022 standard. The journey of conceptualization, design, development, and certification was undertaken in collaboration with banks and mobile Payment Service Providers (mPSPs), with the shared objective of advancing the financial user experience in Jordan. This upgrade of the instant mobile payment switch is another step in JoPACC’s endeavors to enhance the payments infrastructure and realize interoperability between payment schemes that fall under its mandate. The upgrade unlocks an array of new services and features that hold the promise of increasing the adoption and usage of digital financial services and subsequently contribute to digital financial inclusion.
Through this upgrade, instant transactions between JoMoPay and JoPACC’s instant payment system, CliQ, which adopts the same ISO 20022 standard, will become possible. 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. In other words, clients of all banks participating on CliQ and of all mobile wallet providers in Jordan can make instant transfers among each other in an interoperable manner. Moreover, mobile wallet users can now benefit from using aliases as user identifiers, payee confirmation before completing transfers, and credit confirmation to inform the sender of the successful delivery of the transfer. Mobile wallet users will continue to benefit from cardless cash-in and cash-out services accessible through ATMs, which have also been upgraded in line with the ISO 20022 standard.
Besides the expanded transfer features and services, both bank and mobile wallet clients can make instant payments to merchants. Using their mobile applications, they can directly scan QR codes generated on new point-of-sale devices that are penetrating the market to complete payment for goods and services instantly, seamlessly, and safely.
Operating CliQ and JoMoPay on the same ISO 20022 infrastructure under two separate schemes is a breakthrough in digital payments. Both schemes enable interoperability, offer instant payments, and their services are available around the clock. JoPACC works closely with CMA Small Systems AB, the technical provider of the infrastructure, to provide state-of-the-art support services to its direct clients; banks, and mPSPs, to ensure end-users are served in an optimal manner.