(Amman – November 2017) Bank of Jordan received the Excellence Award for being the first Bank in the Kingdom to offer the One-Time Password (OTP) service to all its credit card holders. The award was distributed during the fifth Payment Conference organized by leading payment solutions provider Network International held at the Four Seasons Hotel on 25/10/2017.
This year’s conference, which came under the theme “Taking e-payments forward for a Better Tomorrow” was held under the patronage of the Central bank of Jordan, and brought together industry experts who discussed rapid transformations in e-payment services.
Under the OTP service, online- shopping has become more secure; credit card holders receive an OTP via SMS on their registered mobile numbers that is valid for only one login session or transaction. It is worth noting that the OTP is generated for every transaction made using registered online shopping sites.
Representing BoJ, Khaled Abu Juwaid, Executive Manager for Retail Banking Management, said the award is in recognition of the Bank’s efforts to embrace latest fintech trends, and maximize transaction security. This, added Abu Juwaid, encourages more clients to shop on-line using credit cards.