Stakeholders discuss future of electronic, mobile payments

AMMAN — Leading regional and global executives and IT experts started on Monday the 2nd Electronic & Mobile Payments in the Arab World Conference, which was inaugurated by HRH Princess Sumaya Bint El Hassan, the president of the Royal Scientific Society and chairman of the board of trustees for Princess Sumaya University for Technology. 

During her keynote speech, Princess Sumaya said the meeting comes as “access to services and inclusion in every aspect of economic activity shift from the age-old methods of physical wealth and tangible capital, to a virtual ecosystem in which all must be given equal access to economic life and prosperous opportunity”.

“The countless ways in which electronic and mobile payment systems may make life better for all in our society, including financial services such as credit, savings, insurance and payments, and remittance facilities. More than that, they offer economic and social enfranchisement opportunities that are sorely needed and long-deserved,” she was quoted as saying in a statement by organisers.

Faisal Hakki, the general manager of Arab Advisors Group, said the conference was looking at the role of banks, payment networks, regulators and telecoms, and how these are shaping the different ways payments are being fulfilled electronically and using handheld devices.

The significance of well-structured, accessible and affordable payment systems cannot be overstated, he said.