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Amman —

The End of Cash.. Has it Really Started?

Overnight, the details of our daily financial rituals have changed, as Jordanians today complete their transactions, buy their coffee, pay their bills, and transfer their money with a single swipe on their phone screen, without having to bother searching for change or opening their wallet zipper, so what has changed?

This is not a scene from a science fiction movie, but the new digital reality imposed by the Jordanian economy silently and steadily, as the latest data from the Central Bank of Jordan dispels all the old stereotypes, by recording more than 700 million electronic payment transactions through which capital reached the barrier of 50 billion Jordanian Dinars, a message saying that the Jordanian economy is reshaping its infrastructure from the roots.

For many years, we suffered from the burdens of the "cash economy"; that detestable bureaucracy, the operational costs, and the loss of time in waiting lines, and when the state wanted to move from the realm of hopes to the arena of action, a comprehensive national system led by the "CliQ" revolution, mobile phone wallets, and smart linking with the "Sind" application, succeeded in causing a gentle earthquake in the behavior of the citizen and the commercial street.

And specifically here, we must stop at the role played by our national institutions, led by the Central Bank, which during the "past years" led a path towards building an integrated "digital payment" system that has proven its ability to transition from the idea and planning phase to the phase of daily use and tangible results.

We are facing a transformation that is no longer just technical, but a transformation in the economic culture and the behavior of citizens, companies, and government departments alike, as the 50 billion Jordanian Dinars is a reflection of the widespread use of technology in daily economic life, and evidence that the Jordanian citizen is no longer dealing with digital payment as an option, but has become in many cases part of the details of his daily life.

More importantly, this advanced digital infrastructure has become an important platform for the growth of the financial technology "FinTech" sector, and opens the door to investments, pioneering projects, and innovations that can make Jordan a more prominent center in this sector at the regional level.

In conclusion, the Jordanian economy is not only standing firm in the face of challenges, but is also moving with tangible steps towards the digital future, and these numbers are evidence that the wheel of economic modernization in Jordan, which has already surpassed the stage of talking about the future, has begun to produce results that the citizen, the institution, and the market feel in their daily lives.

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