Ammon News - The use of the electronic payment system via mobile phones in 2020 increased transactions by 213 per cent, and the value of transactions went up by 571 per cent, compared with 2019, amounting to 12,059,668 transactions, with a total value of JD1.083 million.

These figures were shown in the fifth annual report of the National Payments System for 2020, issued by the Central Bank of Jordan (CBJ) on Wednesday. The report monitors, analyses and highlights the most important developments in payment systems, tools and channels and electronic transfer of funds, the Jordan News Agency, Petra, reported.

CBJ Governor Ziad Fariz said that the report aims to provide reliable information and statistics for researchers, decision-makers and investors to benefit from them in developing and promoting the use of electronic payment systems and channels in the Kingdom.

Fariz stressed that the report reflects the CBJ’s strategy of supporting the transition to an electronic payment environment, including supporting modern applicable payment initiatives

The strategy also seeks to facilitate the use of payment methods and electronic transfer of existing and innovative funds such as cheques, payment cards, electronic wallets, and electronic payment channels provided by Jordanian banks and payment services companies and electronic funds transfer, the CBJ governor added.

According to the report, the transactions of the electronic bill presentation and collection system increased by 56 per cent in terms of the number of transactions, and 10 per cent in terms of value, where the number of transactions executed last year totalled 22,625,416, with a total value of JD7.455 billion.

The telecommunications and utilities sectors accounted for the largest proportion of the payment transactions executed through the system, and there was an increase in electronic payments that took place through e-commerce platforms.

Trading in paper-based payment instruments such as cheques decreased by 29 per cent in terms of the number of cheques, and 20 per cent in terms of value. The year 2020 witnessed the circulation of 10,107,035 cheques with a total value of JD45.381 million.

The number of ATMs in the Kingdom reached 2,094 and the number of points of sale devices for accepting payment cards at commercial shops stood at 38,723, and the per capita share amounted to approximately 5.5 points of sale for every 1,000 people (aged 15 years and older).

The total transactions on electronic channels such as ATMs, the Internet and mobile phones accounted for 68 per cent of the total payment movements during 2020, compared with 32 per cent through the traditional channels of banks (counters).