GIZ Jordan has been assigned to implement new project regarding digital remittances, especially for refugees.
In October 2015, the German Federal Ministry for Economic Cooperation Development (BMZ) has commissioned GIZ to implement a new project aiming at improving access, quality and usage of remittances in Jordan in cooperation with the Central Bank of Jordan. The 3-year project targets Syrian refugees and unbanked Jordanians, with a special focus on women of both target groups. In cooperation with CGAP, the project is currently undertaking a comprehensive baseline study in order to fully understand the target groups needs and behavioral drivers of product uptake.
Digital financial services have the potential to drive financial inclusion as they allow to reach the un- and underbanked in a convenient and more cost-effective way than traditional channels. Using the potential of digital transfers for improving access to national and international remittance payments is thus the objective of this project.
The project plans to focus on three main areas: (1) customizing digital financial services to the needs of the target group in cooperation with private operators, (2) informing and training the target group on using digital financial services responsibly, and (3), advising the Central Bank of Jordan on the development and implementation of an appropriate regulation for digital cross-border remittance payments.
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Mobile Money Services live in Jordan
In January 2016, just a few days apart, two mobile money services went live in Jordan. Mahfazati, meaning “wallet” is the mobile wallet provided through Umniah, and Zain Cash was launched by Zain. Both products are promising and quite unique, operating on the national switch JoMoPay which ensures interoperability from day one. If MNOs can master the challenges of agent network management and gain consumers trust, the potential for mobile money services is big in Jordan: 75% of the population does not have a bank account, but mobile penetration reaches over 150%.