Decline in Transaction Value of Jordan’s “Click” Payment System

In early 2023, the “Click” payment system in Jordan reported 20.22 million transactions valued at 2.61 billion dinars, with February transactions declining by 4.3% from January. The user base has grown to 1.74 million, predominantly Jordanian males aged 18 to 30, despite declines in transaction volume and value.

The “Click” payment system in Jordan has recorded 20.22 million transactions totaling 2.61 billion Jordanian dinars from January to February 2023, as reported by the Jordanian Payment and Clearing Systems Company (JoPAC). However, the transaction value decreased to 1.28 billion dinars in February, reflecting a 4.3% decline from January’s 1.33 billion dinars.

Additionally, the number of transactions in February was 9.9 million, a 4% drop from January’s 10.32 million transactions. Despite these declines, the user base for “Click” has grown to 1.74 million in Jordan, marking a 2% increase over the same month.

The statistics indicate that approximately 96.3% of “Click” users are Jordanian, with 1.6 million being local users and 65,000 from other nationalities, comprised of 3.7%. Furthermore, the majority of users, 62.2%, are male, while females make up about 35%. The most engaged demographic is the youth aged 18 to 30.

In terms of transaction types, money transfers constitute 85.3% of all transactions, leaving purchases via “Click” at 14.7%. “Click” was launched in 2020 to facilitate instant fund transfers between bank accounts and e-wallets across participating banks in Jordan.

These trends showcase the growth of the electronic payment landscape in Jordan, emphasizing the progress towards a digital economy that aligns with international technological advancements. Last year, the “Click” payment system achieved 83.9 million transactions valued at 12.1 billion Jordanian dinars.

In conclusion, while the “Click” payment system has seen a decline in both transaction value and volume in February 2023, the user base has continued to expand, reflecting a shift toward digital transactions in Jordan. The system’s comprehensive appeal and user demographics indicate a promising evolution in the digital financial landscape, bolstered by a significant portion of transactions dedicated to money transfers. These developments underscore the ongoing transition to a more advanced digital economy.

Original Source: www.jordannews.jo