Page 49 - SAMENA Trends - May 2020

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

REGIONAL NEWS

Mobile Wallets See Rapid Take Up in Jordan

Mobile Financial Services (MFS) in Jordan
have witnessed growth with the number of
mobile wallets reaching 760,000 wallets
in April 2020. This represents around 10%
of the total mobile subscription base,
with a total transaction value of US$ 88.1
million up from US$ 26.7 million in Dec
2019. It also represents a 230% increase
in transaction value in April 2020 vs Dec
2019, and a 25% increase in the number
of wallets over the same period. There are
several reasons behind the boost in the
uptake and transaction values of mobile
wallets. One of them is, the government’s
decision to support the daily workers
whose jobs were affected in this pandemic
by a weekly fund. The Government urged
those workers to open mobile wallets to customers to make transactions such as is present in this space with the Orange
receive their funds, during the lockdown top-ups and payments remotely, given a Money wallet, Zain with the Zain Cash
period and when the curfew was imposed number of telco stores closures. Jordan wallet, and Umniah provides the Mahfazti
as well. This initial phase of the workers’ is a prepaid mobile market with circa 80% wallet. Financial institutions also play a
fund started in April 2020 and will last till the of the customers on prepaid plans. The key role in the ecosystem with solutions
end of June 2020. Other phases may follow top-up transaction is, thus, vital to keep including Dinark, National Wallet, Gadhaa,
suite. Another driver is telcos provision of people connected. Telecom operators are and other banks.
mobile wallets applications, to enable their important players in Jordan. Telco Orange

Saudi Arabia Climbs to 10th Position
Globally in Internet Speed
consumption per person in the
The Kingdom of Saudi Arabia jumped
to the 10th position globally in kingdom before COVID-19 amounted
internet speed, as it managed during to 600 MB of data per day which is
the month of April to increase the twice the global average, while this
average mobile internet speed to rate has grown to 920 megabytes
55.71 MB per second. According to a per day after starting precautionary
report published by the international measures, which is more than
website Speed Test specialized in three times the global average.
measuring mobile internet speeds, The kingdom had ranked 105 in the
the internet services in the kingdom same classification in 2017 before
witnessed a growing demand from achieving this qualitative leap that
users recently after applying many exceeds 500% in improving the speed
precautions to prevent the spread of of access to the internet through
COVID-19, a SPA release said. The mobile networks in line with the
Saudi Communications Commission plans for digital transformation in the
revealed earlier that the rate of data kingdom.

49 MAY 2020