Latest news with #eFAWATEERcom
Ammon
2 days ago
- General
- Ammon
Over 2,700 new voluntary subscribers join SSC in H1 2025
Ammon News - The Social Security Corporation (SSC) reported that 2,783 people subscribed voluntarily for the first time during the first half of this year, bringing the total number of active voluntary subscribers to 107,279 by the end of the same period. In a response to inquiries by the Jordan News Agency (Petra), the SSC explained that voluntary subscription is an important mechanism for individuals who are not compulsorily covered to complete their insurance rights. The program is available under specific conditions, including that the applicant must be Jordanian, aged between 16 and 60 for men or 55 for women when applying for the first time, not compulsorily insured through any job, and must not have received any social security benefits such as old-age pension, early retirement, lump-sum compensation, or total or partial disability benefits. The SSC noted that this option targets broad segments of society, especially expatriate Jordanians, housewives, and insured individuals who have left their jobs and need to complete the required contributions to qualify for a future retirement pension. Voluntary subscribers are covered under old-age, disability, and death insurance, and the same provisions apply to them as to compulsory subscribers. They must pay a monthly contribution of 17.5% of their declared insured wage, which must not be less than JD 290. The SSC added that applications can be submitted electronically via its official website, mobile application, or the government's Sanad app, with no documents required. Payments can be made through eFAWATEERcom, exchange offices, or banks.
Jordan News
12-06-2025
- Business
- Jordan News
Decline in "eFAWATEERcom" Payment Transactions - Jordan News
Decline in "eFAWATEERcom" Payment Transactions The "eFAWATEERcom" electronic payment system recorded a noticeable decline in both the number and value of transactions executed during May 2025 compared to the previous month. The number of transactions dropped to 5.76 million, while the total transaction value fell to 1.13 billion dinars, representing a 27.8% decrease. اضافة اعلان According to the monthly report issued by the Jordan Payments and Clearing Company (JoPACC), the total number of transactions processed through eFAWATEERcom since the beginning of the year reached 29.38 million, with a cumulative value of 6.37 billion dinars. The report showed a significant 11.8% decrease in the number of transactions in May, down from 6.54 million in April and compared to 5.5 million in March. In terms of transaction value, there was also a 27.8% decline, with 1.13 billion dinars in May, compared to 1.57 billion in April, and the same as 1.13 billion in March. Despite the drop in transactions, the number of eFAWATEERcom users saw a slight increase in May, reaching 4.73 million, up from 4.68 million in April and 4.65 million in March, marking a 0.9% increase. New users in May totaled 40,200 (0.9%), while existing users amounted to 4.68 million (99.1%). The report also indicated that 620 billers are currently registered with eFAWATEERcom, offering 2,138 different services. Transaction distribution by category showed that: Telecommunications topped the list with 1.924 million transactions, Followed by water and electricity with 1.636 million, Government services with 1.043 million, Digital wallets and payment service providers with 527,000, Finance and financial services with 302,000, Education with 98,000, Transport and travel with 49,000, Trade and general services with 37,000, Unions and organizations with 33,000, Gas and energy with 26,000. As for payment methods: 82.1% of transactions (4.73 million) were made through digital payments, 17.9% (1.03 million) were completed using cash payments. In terms of value: Government services led May's payments with 676 million dinars, Followed by digital wallets and PSPs with 245 million, Water and electricity with 63 million, Finance and financial services with 45 million, Telecommunications with 31 million, Education with 19 million, Banks, gas and energy, and trade and services each with 13 million, Transport and travel came last with 5 million dinars. The report also noted that 78.8% of the total transaction value was processed through digital payments, amounting to 891.2 million dinars, while 21.2% was conducted in cash, totaling 240.1 million dinars. Finally, the average value per transaction in May declined to 196 dinars, down from 240 dinars in April and 206 dinars in March. — (Al Mamlaka TV)
Zawya
14-05-2025
- Business
- Zawya
Jordan: CliQ transactions dip, eFAWATEERcom sees 'strong' growth in April
AMMAN — The value of e-payment transactions through the CliQ system fell to JD1.48 billion in April, down by 5.1 per cent from JD1.56 billion in March, according to data issued on Tuesday by the Jordan Payments and Clearing Company (JoPACC). Figures cited by Al Mamlaka TV showed that around 11.52 million transactions were processed through CliQ in April, down 4.9 per cent from 12.11 million transactions in March. The total number of transactions through CliQ reached 43.85 million in the January-April period of 2025, with a cumulative value of JD5.6 billion. The user base continued to grow, with the number of CliQ users rising to 1.81 million in April, marking an increase of 2 per cent over the previous month. According to the data, 96.2 per cent of users are Jordanians with a total of 1.7 million, while non-Jordanian users make up 3.8 per cent with a total of 68,300. The majority of users are 62.1 per cent for men, compared with 37.9 per cent for women, and the most active demographic group is young people aged between 18 and 30. In terms of transaction types, money transfers accounted for 84.9 per cent of all the CliQ transactions, while purchases accounted for 15.1 per cent. CliQ is Jordan's newest instant payment system, launched by the JoPACC in 2020. It enables real-time money transfers between bank accounts in all participating banks and financial institutions in the Kingdom. Meanwhile, the e-payment system eFAWATEERcom recorded a 'significant' increase in the number and value of transactions in April 2025, according to the monthly report issued by the JoPACC. The number of transactions processed through the system reached 6.54 million in April, recording an increase of 18.9 per cent, compared with March that saw the total value of these transactions rising to JD1.57 billion, recording an increase of 38.2 per cent from JD1.13 billion in the previous month. From the beginning of the year to April, eFAWATEERcom processed 23.62 million transactions with a total value of JD5.24 billion. The report revealed that the platform had 4.68 million users in April, up from 4.65 million in March and 4.62 million in February, showing an increase of 0.7 per cent. Of the total users, 34,200 were new in April. The number of transactions increased from 5.5 million in March to 6.54 million in April according to the report. The report added that the highest activity came from the telecommunications sector with 2.215 million transactions, followed by water and electricity, government services, e-wallet and payment service providers, financial services, education, transport and travel, unions and organisations, trade and services, and gas and energy. Digital payments accounted for 5.38 million transactions in April, representing 82 per cent, while 1.16 million were cash payments at 17.7 per cent. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Ammon
30-04-2025
- Business
- Ammon
Total deposits in Jordanian banks reach JD47.3 million
Ammon News - The Kingdom's financial ecosystem demonstrated significant liquidity depth and transactional robustness through February 2025, with key performance indicators reflecting sustained momentum across banking operations and capital markets, according to the Economic Modernization Vision quarterly performance banking deposits appreciated to JD 47.31 billion by February's close, while domestic liquidity reserves maintained a robust position at JD 45.88 billion. The credit portfolio expansion remained bullish with total facilities extended by financial institutions reaching JD 35.20 billion, signaling positive credit appetite in the payment infrastructure exhibited exponential transaction velocity, with the "CliQ" instant settlement platform recording 51.92 million transactions representing JD 5.61 billion in processed acquisition metrics for the platform reached 3.56 million registered accounts. Concurrently, the "eFAWATEERcom" electronic invoicing ecosystem facilitated 17.09 million transaction events with an aggregate value of JD 3.67 the equities space, the Amman Stock Exchange (ASE) demonstrated substantial foreign investor participation, with non-Jordanian stakeholders accounting for 47.6% of total market capitalization. The exchange maintains 161 listed entities with cumulative market valuation of JD 19.32 billion. Trading turnover reached JD 365 million across 125,151 executed contracts, with share volume totaling approximately 195.91 million the regulatory front, authorities have advanced draft provisions for securities lending and borrowing mechanisms, short position protocols, and market-making frameworks, contingent upon ratification of the amended Financial Services Licensing regime. Technical infrastructure upgrades have been implemented for the electronic trading architecture, enhancing system capacity and execution insurance sector has progressed toward enhanced prudential oversight with preliminary regulatory frameworks for the Consumer Protection Fund and implementation of phase two risk-based supervisory protocols for the Financial Inclusion Strategy 2023-2028, regulatory authorities have executed targeted initiatives to enhance female demographic penetration in financial services access, while capacity building efforts in the non-banking financial sector have delivered 118 professional development modules to 1,794 industry practitioners. Petra
Jordan Times
09-02-2025
- Business
- Jordan Times
MadfoatCom attracts new shareholders
AMMAN — The Jordanian electronic payments company "MadfoatCom" announced on Saturday during a meeting at the Central Bank of Jordan (CBJ), attended by the CBJ governor and the company's shareholders, that it has completed the onboarding of new strategic investors. The new investors include Basata Holding from Egypt (acquiring a 25 per cent stake), the Social Security Investment Fund (7 per cent), the Arab Bank, the Housing Bank for Trade and Finance, the Jordan Islamic Bank, and Jordan Kuwait Bank. These banks join the existing shareholder banks, Capital Bank of Jordan, Bank al Etihad, and Cairo Amman Bank, bringing the total banking sector ownership in the company to over 50 per cent. Founded in 2011, MadfoatCom continues to operate and manage the eFAWATEERcom system under the supervision of the CBJ. The system, launched in the summer of 2014, connects banks operating in Jordan with billing entities through a single secure platform. It enables citizens to view their monthly bills from various service providers, check their amounts, and make electronic payments through multiple channels, including ATMs, online banking, and mobile payment applications provided by the company, banks, and electronic payment service providers. Basata Holding is one of the largest electronic payment service providers in Egypt. The company offers a range of digital payment solutions and services through various payment channels and a nationwide network of point-of-sale terminals. Its offerings include bill payments, money transfers, collections, and mobile and e-wallet payments, as well as tailored collection solutions for merchants and customers. MadfoatCom emphasised the significance of this investment in strengthening cooperation between the Jordanian and Egyptian markets, as well as in expanding its business operations. The company is particularly focused on growing in its existing markets and exploring new opportunities abroad, aligning with the strategic vision of its shareholders. The vision highlights the importance of digital payments and electronic transactions, which are poised for substantial growth and adoption in Jordan and beyond. The onboarding of new shareholders was successfully facilitated with the support of New York-based Anniston Capital, Inc., Imara Asset Management, Al Tamimi & Co. Law Firm, and International Business Legal Associates, in collaboration with MadfoatCom's internal team.
