We had opportunity to travel to Jordan for one of assignment in Jordan and had great insights after 4 days of interactions and travels about the region as well as payment & Fintech space

First would like to share my initial thought on country and overall region

  • Found country to very friendly and lively, full of warmth all around
  • Country and region have definitely good physical and digital infrastructure in place
  • Across regions, countries have high level of internet & mobile penetration
  • Good food to eat and not to forget local flavor of Turkish Coffee
  • Entire region has an advantage due to presence of young population across various countries in region from Median Age of 23 Years to 34 years
  • High rate of literacy for both Men and Women

Coming on experience of understanding payment and fintech landscape in region, lots of insights such as

  • Most of countries in the region have already put in regulatory sandbox for Fintechs
  • Government push to setup progressive hubs like Dubai International Financial Center (DFIC), or Abu Dhabi Global Market (ADGM), or Bahrain Fintech Bay
  • Payment & Lending key areas while other sectors growing such as Insurance, Remittance, comparison, Wealth, cyber security & encryption, Big Data & Analytics
  • Government and Central Banks focus on adoption of smart technologies
  • Lots of activities could be seen on Wallets, Crowd Funding, Blockchain or Digital Currency (though Digital currency is currently prohibited in Jordan)
  • Banking penetration on rise
  • Credit Card usage, online purchases & internet payments poised for growth

Going with progress seen across the region, it is expected that we see lots of traction & innovation driven by Fintechs in the region.

Shashank Shekhar

Head of Consulting, The Digital Fifth

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