News Column

Electronic bill presentment and payment system (EBPP) in Jordan

June 1, 2014

Under the auspices of the Central Bank of Jordan (CBJ), the service is being launched under the name of eFawateerCom, and allows people in Jordan to receive and pay bills electronically from their computers, ATMs, kiosks and Point of Sale terminals.

Following a successful pilot phase that involved three banks and three billers (two mobile operators and the Customs Department), eFawateerCom was officially launched on 1 May.

Maha Bahou, Executive Manager of the Payment Systems and Domestic Banking Operations Department at the CBJ, was the first to use the service. She stated, "The collaboration between EMP and MFEP is very significant as they bring a world-class electronic bill presentment and payment system which has been integrated with EMP's extensive payments network in Jordan to create a seamless experience for our citizens."

The system was conceived by the CBJ as one of the initiatives being undertaken in the interest of promoting a more efficient economy. eFawateerCom will reduce the need to send paper statements and invoices, and will encourage electronic payment of bills.

Most large Jordanian billers are expected to join eFawateerCom over the next year or so, including the electricity and water utilities. The Jordanian Government will utilise the platform to manage government payments, such as licenses, customs duties and taxes.

Paul Edwards, Executive Chairman of EMP stated, "I believe eFawateerCom will have a profound effect on Jordanian businesses and citizens by increasing efficiency and reducing the cost of making a payment, in terms of time as well as money. Jordan has the clear potential to become a leader in electronic payments in the region."

Nasser Saleh, CEO and Founder of MFEP said, "We are delighted to have won the tender by the Central Bank to operate the Bill Presentment and Payment System under the Central Bank's eFawateerCom project. I commend the Central Bank for having the vision and determination to make this project happen.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Banker Middle East

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters