AMMAN - More awareness is key to increasing the number of credit and debit card users as the majority of people in Jordan and the region are still using cash and cheques for their purchases, according to MasterCard Worldwide.
Basel ElTell, vice president, Levant, MasterCard Worldwide, said challenges facing more use of credit cards as a purchase method in the Kingdom have to do with traders, users and banks in some cases.
"Convincing traders of the benefits of having a credit-card enable device is a major challenge as the majority of them believe it is costly. Insufficient awareness among people on the benefits of using credit cards, which are safer than holding cash especially at travel, is another issue facing more use of such cards," ElTell said in a recent interview with The Jordan Times.
In addition, some banks issue credit cards for a limited number of groups as they are cautious about issuing such cards for a larger number of users, ElTell added.
Stressing that more awareness is needed to highlight the benefits of using credit cards, which he said is safe and secure, ElTell said: "We are already working with several banks in Jordan to increase awareness among people on the safety of using MasterCard credit cards, which are monitored and protected through a very sophisticated system that prevent skimming and other violations," he said during the phone interview.
MasterCard Worldwide, which is already cooperating with about 15 banks in Jordan, will increase cooperation with other banks and will widen the base of outlets that accept MasterCard from 14,000 currently to 20,000 in three years, he indicated.
He noted that MasterCard Worldwide is working on a plan with five local banks to issue prepaid cards to reach the unbanked in Jordan.
"More than 50 per cent of those aged 18-25 years old do not have bank cards and before the end of this year such cards to serve students and tourists will be issued," ElTell added. "There is a huge potential in this regard to reach the unbanked in Jordan."
© Jordan Times 2011
