(Amman – Jordan) 2017: Marking a further milestone in its efforts to expand financial inclusion in Middle East and Africa (MEA) through accelerating the acceptance and adoption of electronic payments, Bank of Jordan, signed a long-term strategic partnership agreement with Mastercard, a leading technology company in the global payments industry.

Aimed at promoting electronic payments as a viable and cost-effective alternative to cash, the partnership will see Bank of Jordan issue Mastercard payment solutions, including debit and credit cards, to its customers across the country, bringing them greater payment security and convenience.

The signing of the agreement comes at a significant juncture for Mastercard, as the move coincides with the opening of the company’s first office in Amman as part of efforts to strengthen its relationships with local partners and industry stakeholders in Jordan.

“Jordan’s vision for a cashless and inclusive economy will only become a reality if all stakeholders – including government, financial institutions, merchants and technology providers – work together with a sense of common purpose and shared commitment. Mastercard has been collaborating with a broad network of partners to develop a robust electronic payment ecosystem that supports Jordan’s cashless ambitions, and the determination shown by Bank of Jordan, who is an influential player in the domestic banking industry, to speed the adoption of electronic payments will help bring more of the country’s citizens into the formal financial system,” said Basel Eltell, General Manager – Saudi Arabia & Levant, Mastercard.

He added, “Mastercard has been innovating solutions driven by data and insights to increase the safety and security of electronic payments, and the strategic partnership agreement will enable Bank of Jordan customers to take advantage of the benefits offered by these solutions, which provide a safer, simpler and smarter way to pay for goods and services.”

For his part, Bank of Jordan Acting General Manager Saleh Hammad noted the importance of this strategic partnership, which falls under the Bank's efforts to improve/upgrade its e-payment system. It will also help ensure secure banking solutions and smooth transactions, he explained.

"Our goal is to take customer experience to a new level through innovative services and products that encourage customers to shift to e-payments." This, added Hammad," is in line with national efforts aimed at promoting financial inclusion in Jordan."