The Jordan Payments and Clearing Company (JoPACC) has released its 2024 Payments Systems Report, highlighting another year of significant growth in digital payments across Jordan. The report demonstrates a sharp increase in transaction volumes, values, and user adoption of JoPACC’s digital payment systems, underlining the ongoing transition to a more digital financial ecosystem in the country.
According to the report, total transactions processed through JoPACC’s systems surged by 77.2% in 2024, reaching 224.62 million transactions compared to 126.87 million in 2023. The total transaction value grew by 15.3%, amounting to 79.95 billion JOD. However, the average transaction value decreased by 34.9%, to 355.9 JOD, indicating that consumers are increasingly opting for smaller-value digital payments.
Instant payments saw remarkable growth, with CliQ transactions increasing by 178% in volume to 83.95 million, and a 136.6% rise in value, totaling 12.1 billion JOD. The number of registered CliQ users also saw an impressive rise of 41.2%, reaching 1.67 million. Meanwhile, JoMoPay transactions doubled, with a 113.4% growth in volume, reaching 56.79 million transactions, and a 67.5% increase in value to 5.23 billion JOD. These gains reflect the growing reliance on instant digital payments in daily transactions.
The report also notes significant progress in digital financial inclusion, with mobile wallet users increasing to 2.59 million by the end of 2024. Female mobile wallet users now account for 48.8% of the total, reflecting ongoing efforts to promote gender inclusivity in financial services. The number of instant payments users also grew by 21.6%, reaching 3.48 million, with notable adoption across both bank account holders and mobile wallet users.
Automated Clearing House (ACH) transactions showed steady growth, with JOD-denominated transactions increasing by 6% and USD-denominated transactions rising by 8.5%. eFAWATEERcom transactions grew by 25.6%, reaching 66.07 million transactions, with a total value of 13.19 billion JOD, and 79% of these transactions were conducted digitally, indicating a clear shift away from cash-based payments.
Cheque transactions remained significant in Jordan’s payment landscape, with 6.51 million cheques processed through the ECCU system, amounting to a total value of 40.3 billion JOD. The percentage of returned cheques dropped to 3.4%, signaling improved financial discipline in cheque-based payments.
The findings in the 2024 Payments Systems Report underscore Jordan’s ongoing progress towards a more efficient, inclusive, and digital payments ecosystem. The increasing adoption of instant payments and digital financial services highlights the positive impact of JoPACC’s efforts to enhance the security, accessibility, and efficiency of financial transactions. JoPACC remains dedicated to further developing and expanding digital payment solutions to meet the evolving needs of individuals, businesses, and financial institutions in the region.
