Paynet is Jordan’s national e-payment network, owned and operated by a joint venture formed by Visa Jordan Card Services (VJCS) and Specialised Technical Services (STS).
Launched in Sep. 2005, Paynet provides simple and secure real-time processing electronic payment services for Jordanian entities who wish to conduct local and global e-Business, e-Government or e-Commerce activities.
The joint venture established partnerships with the leading banks in Jordan to offer multiple payment methods including Visa and Mastercard Credit cards, Debit cards, Pre-paid cards as well as inter-bank account transfer (direct debit), not to mention mobile payments. Payments using such methods can be conducted anytime, anywhere using a regular PC, public Kiosk or a mobile phone without the need of any special set up on the user side.
Paynet’s mode of operation is ideal to all stakeholders: The payee “Merchant”, the payer “ Card/Account holder” and the bank acquirer are connected to a central hub “ gateway” over the internet using standard secure interfaces. This way, each party can take care of his part of the business logic while taking a common language with the hub that connects it to the rest of the network.
Paynet’s merchant application (deployed at the merchant side) is only responsible for formulating an order and calculating the amount due while the gateway application (deployed at the joint venture side)handles capturing the details of the payment method (e.g. card/account number)and the bank application handles the authentication part using up-to-date 2-D secure and 3-D secure (VBV and secure code) standards endorsed by Visa and Mastercard, and implemented by the Jordanian Banks. |
