MasterCard and Bank of Jordan are set to accelerate the acceptance and adoption of electronic payments in Jordan.

Both the sides have signed a long-term strategic partnership agreement to this effect on 28 May.

The move is aimed at promoting electronic payments and improving financial inclusion in the country.

Under the partnership, Bank of Jordan will issue MasterCard debit and credit cards to its customers across the country.

MasterCard general manager of Saudi Arabia and Levant Basel Eltell said: “MasterCard has been collaborating with a broad network of partners to develop a robust electronic payment ecosystem that supports Jordan’s cashless ambitions, and the determination shown by Bank of Jordan, who is an influential player in the domestic banking industry, to speed the adoption of electronic payments will help bring more of the country’s citizens into the formal financial system.

“MasterCard has been innovating solutions driven by data and insights to increase the safety and security of electronic payments, and the strategic partnership agreement will enable Bank of Jordan customers to take advantage of the benefits offered by these solutions, which provide a safer, simpler and smarter way to pay for goods and services.”

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Bank of Jordan acting general manager Saleh Hammad said: “The importance of this strategic partnership, which is aimed at upgrading the bank’s electronic payment system and providing advanced banking solutions to customers, thus enhancing the level of ease and security of their banking transactions.

“Bank of Jordan is constantly working to strengthen its position in terms of providing products and services that encourage customers to increase their banking transactions through various electronic payment channels in line with its efforts to enhance financial inclusion in Jordan.”