ProgressSoft Marks New Milestone for JoMoPay
ProgressSoft Corporation is delighted to announce the successful migration of its world-first Interoperable Mobile Payment Switch to the cloud in Jordan; another milestone in its fruitful partnership with the Central Bank of Jordan.
ProgressSoft’s Interoperable Mobile Payment Switch, identified under the brand name ‘JoMoPay’ in Jordan, was endowed by ProgressSoft to the Central Bank of Jordan (CBJ) in 2014 as a gift to the Kingdom of Jordan, enabling full interoperability in its mobile payments ecosystem and placing it at the forefront of financial inclusion efforts on a global scale.
An innovation ahead of its time, ProgressSoft’s Interoperable Mobile Payment Switch, or JoMoPay, has been delivering massive success in enabling cross-platform interoperability between all mobile payment service providers, achieving accessibility, convenience and security as well as encouraging the wider use of electronic payments on a countrywide scale.
Being a cloud-native solution, the unique switch continues to be a forward-thinking innovation that has empowered CBJ to successfully upgrade and migrate the solution from on-premise infrastructure to the cloud on 31 January 2020, providing it with the benefits of ensuring business continuity, attaining seamless connectivity with all payment service providers and massively reducing IT infrastructure running and maintenance costs.
Today, JoMoPay continues to assume its switching, clearing and regulating roles that enable unbanked customers to interact with the financial system via low-cost financial channels. It also goes on to enable the central bank to regulate mobile payments, manage the financial stability of mobile payment service providers and assure their compliance with its regulations.
ProgressSoft is always honored to take part in the development of the Kingdom of Jordan’s payments ecosystem and is delighted to be celebrating this success story with the Central Bank of Jordan.