Accelerating financial inclusion through digital payments: Jordan’s CliQ success story

Maha Bahou, CEO, Jordan Payments & Clearing Company 

In Jordan, the widespread adoption of CliQ, an innovative Instant Payment System, has transformed the landscape for digital financial services and boosted financial inclusion. Previously, most banking customers had been hesitant to embrace digital financial tools, due to a lack of trust. In June 2020, the Jordan Payments and Clearing Company (JoPACC) launched CliQ, which leverages cutting-edge payment technologies to allow clients to send and receive money anytime, anywhere, with transactions processed in real time. The system is integrated into the mobile banking apps of 19 banks in Jordan, making CliQ easily accessible to the majority of bank clients.

In December 2021, JoPACC upgraded the Jordan Mobile Payments Switch (JoMoPay) to the ISO 20022 messaging standard, which enabled fully interoperable instant transactions between CliQ and JoMoPay, allowing users to seamlessly transfer funds between bank accounts and mobile wallet accounts.

Today, its integration with mobile banking apps and adherence to modern standards ensures seamless interoperability and advanced security features.

A world of benefits

CliQ promotes financial inclusion, reduces the informal economy, enhances economic stability, and supports regulatory efforts to monitor and manage financial transactions more effectively.

Its impact on financial inclusion has been substantial. The system’s ease of use and convenience have fostered national confidence and trust in digital financial services. A broad spectrum of users, including those previously excluded from traditional banking services, are now participating fully in the digital economy. CliQ handles more than 5 million transactions per month, and has established itself as the leading payment method for individuals and small businesses alike.

By accelerating the movement of money, CliQ is enabling businesses and consumers to operate more effectively and with greater confidence. It has significantly reduced reliance on cash and cheques by offering a convenient alternative, and also addresses liquidity challenges, especially during weekends and holidays when traditional banking services are unavailable, by ensuring that individuals and businesses can meet their financial commitments without disruption.

More than just a payment system, CliQ represents a transformative leap in Jordan’s financial technology landscape. Its success demonstrates the importance of innovation and collaboration in developing robust financial solutions that meet the evolving needs of consumers and institutions.

You can learn more about how CliQ works in the video below, and on the JOPACC website.