Customers who do not have a smart phone can transfer money and withdraw money from ATMs using the secure messaging service USSD. As of January 2019, the total number of Syrian refugees in Jordan stands at over 671,000. The majority of refugees (85%) live below the poverty line; nearly three quarters (73%) receive cash assistance; 40% rely exclusively on aid. According to a study conducted by GIZ and CGAP, financial inclusion of refugees is nearly nonexistent, while mobile phone penetration is widespread (85% SIM card penetration).

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This feature is still under development as ATM withdrawals are limited to Jordan Kuwait Bank and Cairo Amman Bank regardless if the user has a bank account, note that the withdrawal commission varies according to the service provider. In the previous The Fintech Times Fintech: Middle East and Africa 2021 Report, we reported that Jordan, similar to much of the MEA region, has a very young population, where around 60 per cent of it is under 30 years old. Statistics have shown that Jordanians are often highly educated and are well connected with the world. Nevertheless, as is the case in other parts of MEA too, may have had to immigrate to seek better opportunities, as estimations suggest10 per cent of its citizens are abroad. Users can open an electronic wallet free of charge without depositing any minimum amount through one of the above-mentioned service providers. Users can transfer funds from one e-wallet to another, regardless if it is a company, merchant or individual "personal wallet" account. For example, companies can transfer salaries to employees’ electronic wallets, furthermore, individuals can transfer money to the merchant's wallet to pay for specific service or product. There is a long list of partners approved for charging e-wallets, from Exchange service stores, post offices, telecommunications companies, supermarkets and some mobile stores. View the full list hereThe Middle East and Africa’s (MEA’s) fintech sector is booming, as countries across the region are developing their digital ecosystems, providing new opportunities for startups and existing businesses. One country that has seen success in particular, is the Kingdom of Jordan.

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In theory, it all sounds so straightforward: Leveraging the high penetration of mobile phones to extend financial services among unbanked Jordanians and refugees. In practice, however, generating awareness, uptake and lasting impact of digital financial services (DFS) on people’s lives has been proving to be far more complex. Select your desired Electronic Voucher from the list or you can filter to easily find the desired Electronic Vouchers then press next Moreover, users can open two electronic wallets, provided that each one is linked to a different phone number as the e-wallet number is the same as the mobile number.Furthermore, it is also possible to deposit in the e-wallet or recharge via eFawateer.com or through the ATMs of the Jordan Kuwait Bank or Cairo Amman Bank. Mobile wallet customers can make cash withdrawals and deposits through ATMs of all banks using the mobile wallet's companion card. Fourbanks also provide cardless cash-in/ cash-out services to customers of all wallets through their ATMs, which are Jordan Kuwait Bank, Arab Bank, Cairo Amman Bank, and Housing Bank. ATM locations and those closest to you can be found through this map.

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To improve its wider economic development, the Kingdom came up with Jordan 2025: A national vision and strategy. Through the assessment of sectoral challenges identified, the strategy provides initiatives amongst other things that will help the country accelerate its economic growth and development by 2025. Country profile of Jordan in the Fintech Times Fintech: Middle East and Africa 2021 Report by Richie Santosdiaz and The Fintech Times: SOURCE: The Fintech Times The Central Bank of Jordan (CBJ)’s National Financial Inclusion Strategy 2018-2020 also aimed to “build on a set of priority policy areas, three of which form the core sectoral pillars: microfinance; digital financial services; and small and medium-sized enterprise finance. Four areas are considered as cross-cutting enablers that facilitate the development of industries and make them more robust: Financial technology; financial consumer protection and financial capabilities; data and research; and laws, regulations and instructions.” Partnerships are also happening between banks and fintechs. For example, Arab Bank has two initiatives that are focused on fintech collaboration, AB iHub and AB Accelerator. AB iHub builds rapid prototypes and uses fintech ecosystem collaborations and bootcamps to work directly with fintechs and individuals in the ecosystem. The AB Accelerator programme focuses on the adoption of emerging fintech technologies into Arab Bank’s infrastructure and network – as highlighted in a report by KPMG. Earlier this year, Cairo Amman Bank built the neobank LINC. This new digital ‘bank for you’ offers a full suite of financial services like debit, credit, prepaid cards, international money transfers – to name a few of its perks. Recognizing the aforementioned potential and challenges of mobile money in Jordan, the GIZ Digi#ances project entered a development partnership with Dinarak to increase wallet uptake and usage among unbanked Jordanians and Syrian refugees. GIZ provided technical assistance on the areas of agent network management, customer-centric marketing and business strategy development. The partnership helped Dinarak deploy marketing materials specifically targeting Syrian refugees, and expand its operations in the north of the country, home to the largest refugee host communities in the country.Today, the two-year-old start-up enjoys a market share of 21% in terms of total registered wallets, is first in the market in terms of active agents and stands second in terms of total number of wallets opened and transactions processed. It is worth noting that Jordan hosts 760,000 refugees and asylum seekers registered with UNHCR. Of those, some 670,000 are from Syria, making Jordan the number two host of Syrian refugees per capita globally behind Lebanon. Many are financially excluded due to their circumstances. Then chose the desired Electronic Voucher Store and the denomination and then press more details and buy