Jordan’s International Cards Company (ICC) has inked a deal to issue UnionPay cards next year. This is the first UnionPay card in Jordan.
EMV chip-with-signature technology is now available on the British Airways Visa Card from Chase. Now the British Airways Visa Card has EMV chip-with-signature technology that features a microchip as well as a traditional magnetic strip to accommodate merchants in the United States. The British Airways Visa Card does not charge foreign transaction fees, delivering up to three percent savings on international purchases, allowing cardmembers to earn 2.5 Avios (British Airways Executive Club currency) for every $1 spent on British Airways purchases. The announcement also marks the third credit card in the Chase portfolio and the first airline co-brand card to offer EMV chip-with-signature technology.
Actis pan-emerging markets private equity investor acquired Visa Jordan Card Services (VJCS), Jordan’s largest merchant acquirer and effectively national ATM switch, for US$87 million. VJCS commands an 80% market share of the POS terminals and processes all Visa POS transactions as well as all inter-bank ATM transactions. Actis platform Emerging Markets Payments Holdings (EMPH) is intent on leading the payments business in the region. The vast majority of Jordanians have a debit or credit card, but these are underused with consumers predominantly still using cash, given card spend only accounts for 5% of personal consumption expenditure.
GlobalCollect will now process online credit card payments for Royal Jordanian (RJ) in over 25 currencies throughout the Middle East, North Africa, Europe, Asia, and North America. This will allow RJ passengers to buy tickets via the RJ call center by providing RJ agents with their credit card information. A future expansion of the partnership will include adding alternative payment methods such as real-time banking, cash, and bank transfers to tap into additional customer segments preferring non-card payments. GlobalCollect also provides its clients strategic advice on payments by dedicated airline consultants, online & call center customer support, and advanced fraud screening.
Cairo Amman Bank has implemented IrisGuard’s “iBank” biometric ID
solution for customer verification through individual iris identification at
the bank’s ATMs across Jordan and Palestine. IrisGuard will be
deploying its “IrisGuard IG-AD100” iris cameras at the bank’s nearly 200
ATMs to provide data integrity and ensure privacy using biometric
data. Additionally, IrisGuard will be providing its biometric ID solutions
for internet online-banking and employee time attendance by year’s end.
Cairo Amman Bank operates nearly 70 branches across the region and is
a member of the Jonet ATM network while IrisGuard has been in operation
since 2001 providing customers and system integrators with large-scale iris
solutions using camera devices at through its offices in the UK,
and the UAE.
Jordan Ahli Bank has announced that it will be offering VISA Gold and
VISA Classic cards. The bank will offer the cards with the lowest
in the Region and a variety of monthly payment schemes which suits their
individual needs. Options allow the customer to pay the balance in full
reimburse 5% of the utilized credit with a minimum amount of JD 10. This
development allows clients to make purchases from points-of-sale anywhere
around the globe and cash withdrawals from ATM machines with”Visa” and
Customers of Cairo Amman Bank(CAB) can now benefit from
discounts in over 60 shops across Jordan when they use their VISA card.
The card rewards on various retail items as part of an effort to provide
customers with access to products and services promoting a higher
standard of living. CAB has 65 branches in Jordan and Palestine with a
capital base in 2005 of JD 67.5 million and shares at JD 163.3 million.
Jordan Ahli Bank has announced that it is to implement a managed
application evaluation service from Experian-Scorex. Experian-Scorex
meets the demands of Ahli Bank in establishing automation that responds
to the client within seconds. This application service enables Jordan
Ahli Bank to accurately assess a credit risk and make consistent
decisions about their potential value as a customer. The solution also
enables business-scenario evaluation for calculation of various
potential changes. This also evaluates the effectiveness of lending
strategies. Experian-Scorex maintains connectivity with more than 70
credit bureaus around the world. JAB, in addition to Jordan, has a
presence in Lebanon, Palestine, Cyprus, and a 19% stake in JIB (London).
Bank Audi SAL has signed a contract to purchase eFunds’ “IST/Switch” electronic payment processing software. The “IST/Switch” will be deployed both in Lebanon and in the Bank’s Jordanian branch network. Bank Audi manages $12.9 billion of total assets globally. The deal was concluded with the active support of Mideast Data Systems Lebanon, eFunds’ master distributor for the Middle East based in Lebanon.
PaymentCentric has signed a deal to distribute CyberNet POS terminals in the Middle East. PaymentCentric is now deploying more than 300 EMV-certified countertop “JADEAdvantage,” which feature
32bit processor, open architecture, tamper resistance and built-in PED functionalities. CyberNet EMEA recent opened a Middle East and Africa office based in Dubai. The Company is a subsidiary of CyberNet Inc headquartered in Seoul, Korea. PaymentCentric was founded by the joint efforts of RS/2 Software Group and a group of leading Jordanian investors and financial institutions.
RS2 Software Group and Telaterra Software Ltd. announced today the signing
of an agreement with Jordan National Bank PLC and the George Nuqul Group to
form PaymentCentric, a new joint venture company located in Amman, Jordan.
PaymentCentric will offer Internet based e-payment infrastructure and
processing services to banks, general financial services organizations and
merchants initially in the Middle East.
In the announcement Mr. Reinhold SchÃ¤ffter, RS2’s Group Chief Executive
Officer said, “This new joint venture with our partners in Amman is a
further step in selected business strategies which now include entry into
electronic payment transaction processing using RS2’s proprietary core
software BankWORKSÂ®.” Mr. SchÃ¤ffter commented further, “The year 2000 was a
year of consolidation and implementation of strategies to engage only in
businesses which strengthen our products and services using BankWORKSÂ® to
build existing businesses and to launch new ones. Entering international
markets with joint ventures offers tremendous opportunities to expand our
position as transaction processor. It is an important milestone towards our
long-term success, and allows us to increase our market share and earn
superior and predictable returns.’
The first range of Internet based services to be introduced by
PaymentCentric will include Internet on-line authorization switching,
e-Billing through new channels, e-Payments for credit and debit card
transaction processing and hosting of merchant store-front applications.
In joining in the announcement Mr. Sameer Mubarak, Technical Director and
Co-Founder at Telaterra, added, “The e-Payment infrastructure that
PaymentCentric provides comes to complement the e-Government efforts
directed and supported by H.M. King Abdullah II. PaymentCentric services are
based on latest available technology and software solutions whereby
transaction processing is linked to local and international payment
infrastructures on a real-time on-line basis. We anticipate start-up with
our first customer in February 2002.”
TELATERRA SOFTWARE LTD
Telaterra is a Jordanian company, which provides efficient and high quality
software outsourcing services. It specializes in Internet-enabled software
application development. Telaterra is set apart from its peers in the local
market by employing highly qualified staff which enables Telaterra to
develop dynamic integrated and network able software solutions targeted at
the thin-client market. In providing broadly based added-value services
Telaterra efficiently assists their customers in improving their financial
Please find further information at
JORDAN NATIONAL BANK PLC
Jordan National Bank PLC was established in Jordan in 1955. It operates 54
branches and offices in Jordan, 35 of which are in the Greater Amman Area,
12 branches in Lebanon, an international banking unit in Cyprus, and 5
branches in Palestine (West Bank). The Bank’s principal activities include
retail and corporate banking services such as deposits in JD in all
principal foreign currencies, lending, trade finance, foreign exchange,
credit cards and investments. Jordan National Bank is regarded as a retail
bank with a strong market position and customer base.
Please find further information at www.ahli.com
RS2 SOFTWARE GROUP
RS2 Software Group is a global provider of business driven electronic
payment solutions and Internet services, consultancy and related services to
the banking and financial industry, service providers and retailers. RS2
Software Group lists major financial institutions as its clients.
BankWORKSÂ® products are installed at over 80 locations in more than 30
countries in Europe, Middle East, Africa, the Americas and Asia. RS2
Software Group companies have offices in Germany, Malta, Hungary, Egypt,
Lebanon and Hong Kong.
Please find further information at www.rs2.com