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Sun 30 May 2004 04:00 AM

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Visa Jordan unveils new payment gateway

Visa Jordan Card Services (VJCS) has announced that it will implement a national payment gateway using the ‘Pay One’ secure online payment system. The solution will enable more than 1.5 million card holders and bank-account owners to make online payments.

Visa Jordan Card Services (VJCS) has announced that it will implement a National Payment Gateway using the ‘Pay One’ secure online payment solution. The solution, provided by Business One, a division of the STS Group, will enable debit and credit card holders, as well as bank-account owners, to make online payments for e-commerce and e-government transactions, safely and in real-time to more than 1.5 million debit and credit cards in Jordan.

The implementation of the Pay One solution will leverage Visa Jordan’s role as the central facilitator of ‘brick-and-mortar’ payments as well as EMV POS (Europay, MasterCard, Visa International point-of-sale) and ATM transactions in Jordan.

Pay One will also support Visa Jordan’s initiative of developing a consolidated national payment gateway for switching, processing, settlement and clearing all electronic payments resulting from the different electronic channels such as the internet or mobile-based transactions.

More than 1.5 million debit and credit card holders in Jordan can now avail of additional payment channels. Besides, the solution also allows non-card holders to avail of e-government services and e-commerce using account-to-account electronic fund transfers from Jordanian member banks.

Based on IBM’s WebSphere middleware, Pay One offers customers the benefit of making both card-based as well as direct account-to-account electronic fund transfer. Thus, for the first time in Jordan, fulfillment of Business-to-Business (B2B) and Government-to-Business (G2B) payment transactions can be realised, securely and in real-time.

“The [new] e-payment solution offers the chance to complete the lifecycle of e-government and e-commerce transactions, so far impeded by the lack of a payment and fulfillment service. We are confident that this will provide momentum to the e-economy initiatives that Jordan is striving to advance,” says Hani Al Qadi, chairman, Visa Jordan.

Visa Jordan Card Services (VJCS), was established in 1999 by eight member banks with the aim of expanding the visa card acceptance infrastructure. Visa currently holds a 10% stake in VJCS. The consortium's are responsible for more than 50% of Jordan’s banking market, and it is a single acquiring alliance handling processing, marketing, POS services and risk.

“We are proud that Visa Jordan chose Pay One to fulfill this long-awaited and much-needed solution for Jordanian merchants and government to conduct their trading online. With the combination of STS’ and Visa Jordan's long experience in the electronic funds transfer business, we expect this partnership between us to deliver a timely boost to the government and private-sector initiatives,” says Ramzi Zeine, chairman of STS.

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