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Underscoring its commitment to providing customers with secure, innovative payment services introduced for the first time in the Jordanian market per approved specifications and standards. Image Courtesy: Alwasleh
Amman: Underscoring its commitment to providing customers with secure, innovative payment services introduced for the first time in the Jordanian market per approved specifications and standards, Alwasleh - a subsidiary of OFFTEC Holding Group PLC (OHG) - has obtained a license from the Central Bank of Jordan (CBJ) to officially offer e-payment services and operate its proprietary Smart Limit Tool. This step comes following Alwasleh’s compliance with all relevant CBJ conditions and regulatory requirements.
Alwasleh was granted the CBJ license in recognition of its dedication to lending secure, efficient and safe payment services, while adhering to best practices. The company has fulfilled all technical, technological and security requirements to protect customers from fraud or breach risks. Moreover, Alwasleh has shown compliance with anti-money laundering and counter-terrorism financing standards, promoting transparency and safeguarding financial consumers.
With this license, Alwasleh will deliver a new mechanism that enables customers to make secure and reliable e-payments easily through its app. By utilizing the Smart Limit Tool, customers can now complete local purchases and payments using a QR code within the closed Alwasleh network. The company will also extend virtual credit cards that can be converted into physical cards, presenting customers with the flexibility to perform a range of domestic and international payment transactions, catering to their diverse needs.
The Smart Limit Tool further strengthens the company’s standing as the first and leading provider of the ‘buy now, pay later’ service in the region, while also pioneering the introduction of smart services to local and regional markets. Among these innovations is an added medical limit for all customers, which provides dedicated purchasing power for medical services and procedures, helping customers reduce the risk of unmet medical needs. Together, these offerings cater to diverse community segments and advance the concept of financial inclusion.
On this occasion, Alwasleh General Manager, Dr. Nabil Nasser, emphasized the importance of this achievement for the company. He explained that obtaining the CBJ license ensures Alwasleh operates per the highest standards, with the necessary control and regulatory measures in place to protect customers and bolster performance.
He added, “We value the efforts of the Central Bank of Jordan’s various departments in embracing the latest solutions, adopting new entrepreneurial ideas and fostering creativity and excellence within the sector. Their support has been instrumental in helping Alwasleh secure this license, while also bringing additional responsibility for the company to continue deploying new innovative solutions that enhance its competitiveness both locally and across the broader region.”
About OFFTEC Holding Group
OFFTEC Holding Group PLC (OHG) is a Public Shareholding Company listed on the Amman Stock Exchange (ASE) as (OFTC) with a total capital of JOD 34.85 million. The leading regional company owns three subsidiaries: OFFTEC, offering services and innovative solutions in business and technology; Alwasleh, providing convenient leasing and financing solutions; and WATCO, specializing in lighting solutions and high-end architectural lighting products. All solutions extended by the OFFTEC Holding Group are specifically designed to create sustainable value for clients, partners, suppliers and stakeholders alike.
www.offtec.com