name and background
full name: Middle East Payment Services Ltd.
founded in 2004 by the Central Bank of Jordan.
Headquarters Location: Al-Biruni Building, Abdullah Ghosheh Street, Amman, Jordan.
Shareholder Background: MEPS is a joint venture whose main shareholders include the Central Bank of Jordan and a number of major Jordanian commercial banks, such as Arab Bank and Jordan Islamic Bank. MEPS is not publicly listed on the Amman Stock Exchange and is an unlisted joint venture with an operating model based on interbank cooperation and market-oriented services.
service scope
Coverage area: MEPS mainly serves the whole of Jordan, covering major cities such as Amman, Irbid, and Zarqa, and has expanded its services to parts of the Middle East (such as Egypt and Palestine) through cooperation with regional banks and payment networks. MEPS supports cross-border payment services through international payment networks such as Visa and Mastercard.
Number of offline branches: MEPS does not directly operate traditional bank branches, and its business mainly provides services through the branches and infrastructure of cooperative banks, and customers can access MEPS services through the branches of cooperative banks.
ATM distribution: MEPS manages Jordan's nationwide ATM network and operates more than 2,000 ATMs by 2024 in the city's business districts, shopping malls and transportation hubs, supporting cash deposits and withdrawals, contactless payments and multi-currency transactions. MEPS's ATM network is shared with several banks in Jordan to provide a seamless payment experience.
services and products
MEPS focuses on payment services and fintech solutions, mainly providing the following services to individuals, enterprises and banks:
Enterprise Services: Provide merchants with POS terminals, payment gateways, and e-commerce payment solutions to support both online and offline transactions. MEPS's payment processing services help businesses optimize the collection process and improve transaction efficiency.
interbank services: Provide payment infrastructure support to partner banks, including ATM network management, card issuance services, and real-time payment clearing. MEPS integrates Jordan's banking network through its payment platform to facilitate interbank transactions.
Innovative products: Launched mobile payment solutions (such as the MEPS Pay app) to support QR code payments and contactless transactions to meet the growing demand for digital payments.
> personal services: Provides issuance and management of debit, credit and prepaid cards with support for Visa, Mastercard and local payment networks. MEPS's payment solutions include mobile payments, online shopping, and ATM services to facilitate individual users to conduct daily transactions.
< regulatory and compliancespan
style="font-size: inherit">Although MEPS is not directly supervised by the Central Bank of Jordan, it has a deep cooperation with it and follows the Jordan Electronic Payment Systems Act and international payment industry standards such as PCI DSS.
MEPS has no record of major compliance violations. As a payment service provider, MEPS strictly adheres to Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) requirements to ensure transaction security and data privacy.
financial health
Since MEPS is not a traditional bank, its financial data is publicly available and does not directly apply metrics such as capital adequacy ratio (CAR), non-performing loan ratio (NPL) or liquidity coverage ratio (LCR). As a payment services company, MEPS's financial health is primarily reflected in its operational efficiency and market share:
market position: MEPS dominates the Jordanian payments market, managing most of the country's ATM network and POS terminals, demonstrating its robust operational capabilities.
risk management: MEPS reduces operational and financial risks by working with multiple banks to diversify risk and its payment system complies with international security standards.
> revenue and earnings: MEPS earns a steady stream of revenue through transaction fees, ATM management, and card issuance services. In 2024, the Jordanian payment market will see an increase in transaction volumes, and MEPS will benefit greatly as a major payment processor.
digital service experience<
span style="font-size: inherit">App & Online Banking: The MEPS Pay mobile app is its core digital product, with a rating of around 4.2 stars (Google Play and App Store, out of 5 stars), and has been praised for its convenient payment features and user-friendly interface. Online banking services are mainly provided through the platforms of partner banks, and MEPS is responsible for back-office payment processing.
core features:
real-time transfer: supports real-time peer-to-peer transfer through MEPS Pay, compatible with accounts of partner banks.
Bill management: Users can pay utility bills, mobile recharges, and online shopping fees through MEPS Pay, and provide transaction history query.
integration of investment instruments: MEPS does not currently provide investment tools directly, but supports investment-related payment services through partner banks.
> face recognition: MEPS Pay supports fingerprint login, and some devices may support face recognition (the details are not specified).
technical innovation:
Open Banking API: MEPS responds to the Jordanian trend of open banking, supports API data sharing, and integrates payment services with the fintech ecosystem.
Card-not-present payments: MEPS Pay supports QR code payments and NFC contactless payments, simplifying ATM and POS transactions.
> AI customer service : AI customer service is not explicitly provided, but real-time support is provided through the digital channels of partner banks.
customer service
MEPS provides multi-channel customer support, mainly for cooperative banks, merchants and individual users:
email: Submit an inquiry through the official website (info@mepspay.com).
Live chat Live chat: The MEPS Pay app may offer live chat capabilities for an unknown purpose.
partner bank support: Customers can get face-to-face or telephone support through partner bank branches and call centers.
> telephone: customer hotline +962-6-520-2000, providing weekday support.
security measures<
span style="font-size: inherit">MEPS uses advanced security mechanisms to ensure the security of payment systems and user data:
Cybersecurity: Transaction data is protected using SSL encryption and PCI DSS standards, Customer information is anonymized.
Anti-Money Laundering & Anti-Fraud: Monitor suspicious transactions in real-time and conduct regular risk assessments in accordance with the Central Bank of Jordan's AML/CFT requirements.
transaction security: Payment transactions require multi-factor authentication (such as password + OTP verification code) to reduce the risk of unauthorized transactions.
Physical security: MEPS-managed ATMs and POS terminals are equipped with surveillance systems and anti-theft devices.
featured services and differentiations
MEPS is unique in the Jordanian payment market with its innovation and regional presence:
Mobile payment innovation: The MEPS Pay app supports QR code and NFC payments, catering to young users and digital trends.
SME support: Facilitate retail and e-commerce in Jordan by providing merchants with efficient payment collection solutions through POS terminals and payment gateways.
Regional cooperation: Partnering with Visa, Mastercard, and regional payment networks (such as BUNA) to support cross-border payments and enhance the international connectivity of Jordan's financial markets.
Social Contribution: Supporting the Central Bank of Jordan's digital economy goals by promoting cashless transactions and financial inclusion, supporting SME development and job creation.
> National ATM network: manages more than 2,000 ATMs in Jordan with high coverage, Provide multi-bank shared services to improve user convenience.
summary
Middle East Payment Services (MEPS) is a joint venture payment services company founded in 2004 and headquartered in Amman, Jordan, funded by the Central Bank of Jordan and several commercial banks. With a focus on payment processing, card services and fintech solutions, MEPS manages a network of more than 2,000 ATMs in Jordan, covering the entire country and expanding to parts of the Middle East. MEPS provides mobile payment and card services for individuals and POS terminals and payment gateways for businesses, is regulated by the Central Bank of Jordan and complies with international payment security standards. MEPS demonstrates financial health through stable trading income and market dominance. The MEPS Pay app has a rating of around 4.2 stars, supports real-time money transfers and bill management, and technological innovations include open banking APIs and cardless payments. Customer support is provided via phone, email, and partner banks, and security measures include SSL encryption and multi-factor authentication. MEPS is unique in the Jordanian payments market with its national ATM network, mobile payment innovation, and SME support, and is a key force in driving Jordan's digital economy.
