JoPACC, a private company, is a domestic payment system operator that manages and develops several payment systems, introduces innovative digital financial solutions, enables fintech innovation, and produces and disseminates knowledge about digital financial services in Jordan.
Its high-level objective envisions a comprehensive and innovative financial ecosystem benefitting all and contributing to digital financial inclusion in Jordan, toward achieving a digital economy. JoPACC aims to ensure that digital financial services in the Kingdom are safe, efficient, interoperable, accessible, comprehensive, and up to international standards.
JoPACC has within its portfolio five payment schemes, and its clients are commercial banks and payment service providers who connect to its systems and platforms to offer financial services to their clients. These schemes include CliQ for instant payments, JoMoPay for mobile wallet payments, eFAWATEERcom for bill payments, Automated Clearing House (ACH) for interbank wire transfers and retail payments, and Electronic Cheque Clearing (ECC) for interbank cheque payments.
JoPACC also introduces digital solutions and standards that enhance the quality, diversity, and usability of financial services in the Jordanian market. It produces knowledge on current themes in the financial sector to increase financial awareness and inform decision-makers encompassing payment system reports, analytical reports, market studies, blog posts, and awareness content.
The latest contribution is the launch of its fintech incubator, JOIN Fincubator, which offers the space and tools to financial institutions, fintech entrepreneurs, start-ups, and students to develop, test, and validate their fintech ideas and solutions. JOIN gives access to infrastructure, expertise, partnerships, finance, and the market.