Decline in Value of Transactions Through the “Click” Payment System in Jordan
The “Click” payment system in Jordan recorded 20.22 million transactions totaling 2.61 billion Jordanian dinars from January to February 2023. A decline in transaction value was noted in February, with 1.28 billion dinars, down 4.3% from January. Despite this, user growth continued, reaching 1.74 million. Money transfers dominate the transactions, and the landscape reflects a shift towards digital payments in Jordan.
The “Click” payment system in Jordan reported 20.22 million transactions valued at 2.61 billion Jordanian dinars from January to February 2023, according to the Jordanian Payment and Clearing Systems Company (JoPAC). While this marks a significant number, a decrease in transaction value was observed in February, which dropped to 1.28 billion dinars, a 4.3% decline from January’s value of 1.33 billion dinars.
Additionally, the total number of transactions fell to 9.9 million in February, reflecting a 4% drop from January’s 10.32 million transactions. Notably, the user base grew to 1.74 million “Click” users by the end of February, indicating a 2% increase.
The statistics further detailed that 96.3% of the users onboarded onto the platform are Jordanian, totaling approximately 1.6 million, while users from other nationalities account for 65,000. Moreover, the male demographic predominates with 62.2%, while female users make up around 35%. The active demographic primarily comprises young individuals aged 18 to 30.
In terms of transaction types, money transfers constitute 85.3% of all activities managed through “Click,” with purchases accounting for the remaining 14.7%. Launched in 2020, the “Click” system by JoPAC facilitates instant transfers and receipts of funds between bank accounts and e-wallets across Jordan.
These developments underscore the evolution of the electronic payment sector in Jordan, illustrating a shift towards a more secure and efficient digital economy in alignment with global trends. Last year, “Click” processed a total of 83.9 million transactions, valued at 12.1 billion Jordanian dinars.
In summary, the “Click” payment system in Jordan experienced a notable decline in transaction value and volume during February 2023 compared to January, despite a growth in the user base. The predominance of Jordanian users and male users suggests important demographic trends. Overall, “Click” continues to signify a transformative step in Jordan’s digital payment landscape, contributing to the advancement of a more digital economy.
Original Source: www.jordannews.jo
