Central Bank of Jordan set to deploy m-wallets

Friday 10 January 2014 08:46 CET | News

The Central Bank of Jordan (CBJ) has unveiled plans to allow Jordanian banks and telcos to launch mobile wallets as part of its ongoing Jordan Mobile Payment project.

Jordanians will be able to use mobile wallets for withdrawing money from ATMs, bill payments and person-to-person or person-to-merchant transfers. Customers will not require either a smartphone or bank account to use the mobile wallets, which will work with standard cellphones, and fund transfers will be possible from customers of one mobile operator to another.

Mobile operators or companies that issue mobile wallets will have to abide by the CBJs mobile payment regulations, and deposit collateral at the CBJ that is equivalent to the value of the e-wallets they want to issue.

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Keywords: Central Bank of Jordan, Jordan, m-wallets, mobile payment, banks, telcos, bill payments, person to person, person to merchant, transfers
Categories: Payments & Commerce
Countries: World
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