|10 November, 2019

Network International conference explores 'Digital Payments for a Changing World'

Influential government, industry & business personalities talk opportunities, innovation & cooperation

Network International conference explores 'Digital Payments for a Changing World'

Amman, Jordan: Network International, the leading enabler of digital commerce across the Middle East and Africa (MEA) region, recently hosted a number of key local and regional industry players at its 7th Annual Network International Payments Conference in Amman. Held under the patronage of the Central Bank of Jordan (CBJ) with the theme ‘Digital Payments for a Changing World,’ this year’s conference covered various topics including Jordan’s financial indices, the Government’s plans to boost the e-payment sector, industry challenges and opportunities, artificial intelligence, and some case studies. The event provided a forum for experts and executives to exchange insights and experiences and work together to propel positive change.

Samer Soliman, Chairman of Network International Services Limited Jordan PSC, delivered the opening address, followed by Amjad Al Sadeq, CEO of Network International Services Limited Jordan PSC, who presented on digital payments and open banking services.

The Deputy Governor of the Central Bank of Jordan, Adel Al Sharkas, discussed central banking in the digital age, providing a broad overview of the impact of technological changes. He explained how the Central Bank has been developing mobile payment services by following a unified method for all financial operations and for all citizens using USSD messaging technology. He noted that the technology is safe and enables Jordanian citizens to perform a number of financial transactions electronically, such as putting money in e-wallets, ATM withdrawals, electronic payments, and money transfers. These services, he said, save citizens time and effort and reduce operational expenses affecting the national economy, while enhancing the efficiency and effectiveness of the national payment system.

The conference was also attended by His Excellency the Minister of Digital Economy and Entrepreneurship, Eng. Muthana Gharaibeh, who gave a comprehensive overview of Digital Payments in Jordan, how it works, its benefits, and how its acceptance can be increased as the global economy moves towards digitalization to leverage higher speed and convenience. Participants were given a broad synopsis on Jordan’s digital payment system and how it provides new and safe means for immediate electronic payment, enabling users to make mobile transfers and small-value payments for bills, person-to-person transfers, and direct purchases.

Other influential business leaders and financial technology experts delivered informative speeches and presentations. Among them were Maha Al Bahou, CEO of Jordan Payments and Clearing Company (JO-PACC); Joe Hurley, Senior Vice President of Partnership Business Development Payment Services at Discover Financial Services; Mohamed Fikhane, Pre-sales Director and Director of the Expertise Center at S2M; Mohammed Yusuf, Head of Digital Commerce at VISA Inc.; and Carla Slim, Economist at Standard Chartered Bank the Middle East, North Africa, Afghanistan, and Pakistan (MENAP).

Commenting on the conference, Soliman said: “We are pleased to host the seventh Network International Payments Conference, which plays a vital role each year in highlighting the latest ideas, trends and updates in the e-payment industry. This year’s conference is the ideal setting for financial leaders across various industries to come together to learn and exchange ideas and look towards the future of digital payment through the lens of innovation, development and advancement.”

“Digital payments are progressively becoming a worldwide trend. Since it is much easier to transact via smartphone, we can expect digital to expand further and be adopted by everyone soon. With various advantages like one-click checkout and password-protected devices, digital payments keep data more secure. Within a relatively short span of time, banks, financial institutions and fintech firms have elevated various aspects  of the payments domain that have enormously simplified the way the world operates, ” said Al Sadeq.

“The emergence of new technologies such as Near–Field Communication (NFC) has further simplified digital payments. The next generation is going to witness countless innovative improvements to the digital space that are sure to greatly benefit the payments sector,” added Al Sadeq.

In line with the CBJ’s National Financial Inclusion Strategy, Network International has continued to play a vital role in taking the country to the next level of digital payments. Its support of local partners such as eFAWATEERCOM, as well as its cooperation in the integration of the Jordan Mobile Payment (JoMoPay) platform with other payment methods, has helped advance the Central Bank’s vision of greater financial inclusion throughout the Kingdom by facilitating and accelerating the payment process.

Al Sadeq concluded by reiterating Network International’s commitment to promoting acceptance, expansion and support for electronic payment solutions.  He said that the company will continue to provide innovative products and services supporting a wide range of business models in strategic cooperation with its partners.

Sponsors for this year’s conference included Discover Financial Services (Platinum), Standard Chartered Bank, S2M, Spier Payments, and the official Telecom Partner, Zain Jordan.

-Ends-

© Press Release 2019

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