In 1991, the following five Jordanian Visa Members; The Housing Bank for Trade and Investment, Arab Banking Corporation, Arab Jordan Investment Bank, Jordan Investment and Finance Bank, and Cairo Amman Bank established Jordan Payment Services Co. (JPSC) to meet the demands of both merchants and customers for a payment services in Jordan that would provide consolidated merchant acquiring services and third party processing.
JPSC’s main goals were:

By the end of 1998, it was clear that the demand for electronic payments in Jordan was growing rapidly, fueled by the customer’s and merchant’s demands. Furthermore, the advent of new technologies, such as phone banking and internet, provided significant opportunities to the banking system to offer enhanced financial services.

The Jordanian Banks, including JPSC’s owners realized the need to meet this demand, and create a modern electronic payment system that would require large scale investment in the acceptance infrastructure and the establishment of common rules and standards. It was therefore agreed with Visa International that the best way to implement this vision would be to create a single acquiring alliance open to all Jordanian Visa members through the formation of a new company (Visa Jordan Card Services). Visa International was invited to join the new company and agreed to do so.