Mastercard, a global payment solutions leader, has partnered with Cairo Amman Bank, a prominent financial institution in Jordan, to transform cross-border money transfers for Jordanian customers.
The collaboration aims to advance financial inclusion and build a more accessible digital economy by facilitating seamless fund transfers from Jordan to 37 countries.
Mastercard is renowned for its payment technology solutions, enabling safe and efficient money movement worldwide. Its services extend to fraud prevention, risk management, and financial ecosystem development.
Cairo Amman Bank, a leading bank in Jordan, provides innovative banking services, catering to both personal and business customers, and is committed to modernising the country’s financial sector.
Under the partnership, Mastercard will provide its advanced Move platform, which powers various payment experiences, including personal and business transactions.
Mastercard Move connects to nearly 10 billion endpoints globally, ensuring swift and secure transfers. Additionally, Mastercard will offer tailored value-added services such as fraud analytics and risk control to meet Cairo Amman Bank’s specific requirements.
The collaboration supports Mastercard’s broader mission of creating robust payment ecosystems across the Middle East. Cairo Amman Bank aims to address challenges in cross-border payments while enhancing security and convenience for local businesses and consumers.
Mastercard’s Money in Motion series explores trends in disbursements and remittances, underscoring the global demand for fast and secure international payment solutions. According to the World Bank, Jordan’s remittance value reached $4.94bn in 2023, reflecting its significance within the global remittance market.
“At Cairo Amman Bank, we are committed to providing our customers with faster and safer transfers. We aim to address existing challenges in cross-border payments and seize opportunities through innovative solutions. The collaboration with Mastercard will empower us to elevate our payment capabilities and reinforce our position in Jordan’s financial sector,” said Dr. Kamal Al-Bakri, CEO, Cairo Amman Bank.
“Mastercard focuses on building robust payment ecosystems and advancing the digital economy across the Middle East. Our partnership with Cairo Amman Bank will be instrumental in bringing convenient and secure cross-border payment solutions to Jordan. Together with Cairo Amman Bank, we will provide local businesses and consumers with the confidence needed to navigate today’s global market and allow them to transact internationally with ease,” said Adam Jones, division president, West Arabia, Mastercard.
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