Cliq's rapid growth: 205% increase in payment value

(File photo: Jordan News)
AMMAN — Cliq instant electronic payment system continues to evolve and grow across all metrics, drawing closer to people and offering a service that simplifies their daily and business lives, particularly in the area of money transfers. It has shown significant growth in payment value during the past month of February, with a 205 percent increase compared to the same month last year.اضافة اعلان

According to the monthly report from the Jordanian Payment and Clearing Company (JoPACC), the total value of payments through the Cliq instant electronic payment system reached JD714 million last February, as reported by Al Ghad.

The report also indicates that the value of payments through the Cliq system increased by JD480 million, a substantial 205 percent increase compared to the previous year's value of around JD234 million for the same month.

Furthermore, the report highlights that the "transfer" service through the Cliq system captured the largest share of payment value during February, totaling around JD603 million, constituting 84.4 percent of the total.

Meanwhile, the purchasing service accounted for approximately JD111 million, making up 15.6 percent of the total.

This growth coincides with banks considering imposing a commission on Cliq's instant payment system services, which is still under study, and no decision has been made regarding it yet, even after four years of providing the service for free to users.

Additionally, JoPACC's report reveals that the number of transactions through the Cliq payment system also saw an increase during the same period, reaching approximately 4.7 million transactions in February.

According to the report, the number of transactions recorded through Cliq in February increased by 3.38 million transactions, a 250 percent increase compared to the number of system transactions recorded in the same month of the previous year, which was 1.35 million transactions at that time.

Cliq is the latest instant payment system in Jordan, launched by JoPACC in June 2020. It enables instant and free sending and receiving of money between bank accounts in all participating banks in the system, as well as to and from Jordanian e-wallets. As for the number of Cliq system users, the report indicates that its user base increased to approximately 1.3 million users by the end of last February.

Read more National news
Jordan News