Khaberni -The ninth annual report of the payment system launched by the Central Bank of Jordan shows recording unprecedented growth rates in the electronic payment system during the year 2024, where the data shows that 84% of total payment operations in Jordan during 2024 were done via electronic channels, while cash transactions shrunk to only 16%, reflecting the extensive expansion in individuals and companies relying on digital payment solutions, in line with the kingdom's directions towards creating a comprehensive and advanced digital economy, and Jordan's commitment to enhancing financial inclusion and innovation.
The significant rise in electronic payment operations is driven by the substantial growth in the number of payment orders executed through the instant payment system by 148% in 2024, reaching 140.7 million payment orders with a total value of 17.3 billion dinars, and an increase in the number of bill payments electronically via the "e-Fawateercom" system by 26% reaching 66.1 million payment orders in 2024 with a total value exceeding 12.6 billion dinars, and an increase in the number of electronic payment transactions using cards to 350 million transactions with a total value exceeding 25 billion dinars, and a rise in the value of electronic payment through e-commerce sites reaching a total value of 600 million dinars, alongside an increase in merchant points of sale to exceed 93 thousand points of sale.
In this context, the Governor of the Central Bank of Jordan, Adel Al-Shariks, stated that this radical transformation in payment methods is evidence of the rise in financial inclusion levels in the kingdom, reflecting the success of the Central Bank in achieving all its targets within the financial services sector in the implementation program of the Economic Modernization Vision 2023-2025, specifically the targets related to driving the digital transformation, represented in launching the National Strategy for Electronic Payments 2023-2025, developing the electronic documentation ecosystem for the financial and banking sector, which contributed to developing electronic payment services and meeting the financial consumer’s need, automating financial transactions to minimize paper transactions, and working to increase the level of adoption and acceptance of electronic payments, and enhancing the range of access to financial services across all regions of the kingdom.
Al-Shariks affirmed that these developments enhance Jordan's pioneering position in the field of digital payments both regionally and internationally and reaffirm the Central Bank's commitment to providing all forms of support to offer a secure, advanced, and growth-stimulating digital financial environment, contributing to accelerating the pace of growth of digital payments, thereby enhancing the efficiency and flexibility of the national financial system, serving national economic interests and meeting the financial needs of consumers, both individuals and companies, in the era of digital transformation.
