Jordanians Yet to Embrace Online Banking – Report

The use of electronic and mobile banking channels amongst Jordanians remains low for payment services, according to a new report from the Arab Advisors Group.

While online banking was used by 14.6 percent of respondents who have a bank account, it’s primarily to check balances and transfer money, and the 4.6 percent who use mobile banking largely check their balances through the services, rather than make payments, said the report.

Mohammad Shawwa, Research Manager at Arab Advisors, presented the report, and suggested a lack of awareness of mobile channels and “perceptions that electronic and mobile channels are not secure enough” limit widespread usage in the Kingdom. “Many banked customers are actually unaware of the electronic and mobile banking services their banks provide, while some aren’t convinced that the online services on hand are robust enough for their liking,” added Malik Malik, research analyst at Arab Advisors.

Shawwa further explained that while this was beginning to change among younger generations, banks needed to push these new services and banking methods with incentives and awareness campaigns.

The presentation took place at Arab Advisors’ second Electronic and Mobile Payments Conference in Amman. The conference intended to examine issues surrounding electronic and mobile payments, and the benefits they may have in society. As keynote speaker HRH Princess Sumaya bint El Hassan said: “The countless ways in which electronic and mobile payment systems may make life better for all in our society include financial services such as credit, savings, insurance, and payments and remittance facilities.”