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Jordan
Jordan, a Middle Eastern nation known for its rich history, diverse landscapes, and welcoming culture, is a key player in the Levant region. With a population of around 10 million, Jordan is recognized for its ancient monuments, vibrant cities, and contributions to tourism, education, and healthcare. Strategically located in the heart of the Middle East, Jordan serves as a vital trade and transit hub, connecting regional and international markets.
Despite regional and global challenges, the Jordanian economy has demonstrated stability and resilience. Supported by government reforms, foreign investment, and a robust tourism sector, Jordan’s economy grew by about 2.5% in 2021 and 2.7% in 2022, driven by strong performance in information technology, education, and remittances.
Tourism in Jordan remains a cornerstone of economic growth. Attractions like Petra, the Dead Sea, and Wadi Rum draw millions of visitors annually, contributing significantly to GDP and employment.
Jordan’s strategic location enhances its role in regional trade, supported by free trade agreements (including with the United States) and infrastructure investments in ports, roads, and logistics.
As part of its economic diversification strategy, Jordan is expanding its technology, renewable energy, and education sectors. Amman has become a growing tech hub, encouraging startups and innovation, while investments in solar and wind energy aim to reduce reliance on imported fuel.
With inflation averaging around 4.5% in 2023, the Central Bank of Jordan continues to implement policies that promote financial stability, investment, and sustainable growth in a rapidly evolving regional economy.
Top banks
Jordan’s financial sector is well-established and plays a vital role in the country’s economy, featuring a wide range of local and international banks and financial institutions that provide diverse banking, investment, and fintech services. Here are some of the leading banks in Jordan:
Arab Bank
A leading bank in Jordan, Arab Bank provides comprehensive retail banking, corporate banking, investment services, and digital banking solutions. Known for its loans, savings accounts, wealth management, and trade finance, Arab Bank delivers customer-focused financial solutions for individuals, businesses, and institutions across Jordan.
Housing Bank for Trade and Finance
A leading bank in Jordan, Housing Bank for Trade and Finance offers retail banking, corporate banking, loans, savings accounts, trade finance, and digital banking services. Known for its customer-focused financial solutions, secure online banking, and support for businesses and individuals, the bank provides innovative banking services across Jordan.
Jordan Kuwait Bank
A prominent bank in Jordan, Jordan Kuwait Bank offers a full range of retail banking, corporate banking, and investment services. Known for its digital banking innovation, loans, savings accounts, trade finance, and wealth management, the bank provides reliable financial solutions for individuals, businesses, and institutions across Jordan.
Bank al Etihad
A leading bank in Jordan, Bank al Etihad provides personal banking, business banking, loans, savings accounts, credit cards, and digital banking services. Known for its innovation, customer-focused approach, and secure online banking, Bank al Etihad empowers individuals and businesses with modern financial solutions across Jordan.
Jordan Islamic Bank
A leading Islamic bank in Jordan, Jordan Islamic Bank offers Sharia-compliant banking services, including personal banking, corporate finance, savings accounts, investment products, and digital banking solutions. Committed to ethical finance and sustainable growth, the bank provides innovative financial services that align with Islamic principles and support individuals and businesses across Jordan.
Top payment methods
Alongside a strong traditional banking sector, Jordan has experienced rapid growth in digital payment solutions. Mobile payment platforms like JoMoPay have gained popularity, enabling users to make secure, convenient payments via smartphones and supporting the country’s shift toward a cashless society. Mobile banking, contactless payments, and digital wallets are increasingly used, particularly by younger and tech-savvy consumers.
Jordan’s payment landscape reflects a combination of traditional financial practices and modern fintech innovations. The government has promoted financial inclusion, digital literacy, and digital banking adoption, helping accelerate the transition to electronic payments and cashless transactions.
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JoMoPay
JoMoPay (Jordan Mobile Payment) is a national platform established by the Central Bank of Jordan to promote cashless transactions and financial inclusion. It enables users to link mobile wallets, perform peer-to-peer transfers, pay bills, and manage transactions using mobile numbers. Designed for both banked and unbanked populations, JoMoPay simplifies access to financial services without requiring traditional bank accounts. Its interoperability allows seamless transactions between various mobile wallets and financial institutions. By fostering digital payments, JoMoPay supports Jordan’s efforts to modernize its financial system, enhance transparency, and drive economic growth while reducing reliance on cash.
Visa
Visa is the world’s largest global card network by transaction value, accepted almost everywhere. It’s known for secure, fast, and reliable payments, positioning itself as “the best way to pay and get paid by everyone.”
Mastercard
Mastercard is a global payments leader, dominating the co-branded card market in Europe and key countries like Brazil, Canada, and Germany. Known for secure, contactless, mobile, and digital payment solutions, Mastercard drives e-commerce, fintech, and online banking innovation worldwide.
ApplePay
Google Pay
Google Pay enables secure digital payments using stored credit or debit cards for online, in-app, and in-store purchases. It offers a fast, seamless checkout experience on Android devices and supports 3D Secure authentication for EU and UK-issued cards.
Concluding remarks
Jordan’s payment landscape blends traditional banking with modern fintech innovations, including digital wallets, mobile banking, and contactless payments. Government initiatives promoting financial inclusion and digital literacy are accelerating the shift toward cashless transactions, creating a versatile payment ecosystem that reflects evolving consumer preferences and advances in financial technology. Here’s an overview of the primary payment methods:
Cash
Cash remains widely accepted in Jordan, particularly in rural areas, but digital payments are increasingly common in urban centers.
Credit and Debit Cards
Cards are a popular payment method in urban areas, with major international credit card companies operating in Jordan. Contactless payment options are also becoming available in major retail locations.
Mobile Payments
Mobile payment platforms like JoMoPay allow users to make secure payments via smartphones. This platform supports peer-to-peer transfers, bill payments, and retail transactions, helping facilitate digital transactions.
Bank Transfers
Bank transfers are commonly used for larger transactions, such as rent payments, business expenses, and utility bills.
Checks
Checks are still used for specific business transactions, though digital payments and bank transfers are becoming more prevalent.
Digital Wallets
Digital wallets are gaining traction, allowing users to store payment information and make transactions online or in-store with ease.
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