Dinarak Mobile Payment Service Provider

Financial Inclusion rate among Jordanians and Jordanian residents are relatively low while 95% of the Jordanian population own smart phones, and there is a considerable growth in internet users.

Limited access to basic financial services, to finance, and banks to unbanked and underbanked population in Jordan hindering their ability for an economic growth, especially the underserved segments including women, youth, refugees, migrant workers, MSMEs, rural areas and low-income Jordanians. Only 30% of Jordanians population are banked. The traditional financial ecosystems need a lot of money (high fees), time, Effort, Crowd, transportation fees, and cash overhead with their inconvenient & manual paperwork, and long & complex processes. This creates unnecessary hurdles for individuals to manage their money effectively.

In everything we do we believe in challenging the status quo and thinking differently.

That is why Dinarak's core value proposition is to save people time, effort, and money by giving the target group the power to make digital financial transactions on their mobile phone in a convenient, lower fees, affordable, responsible, useful, sustainable, and secure manner with a focus on underserved segments including women, youth, refugees, migrant workers, MSMEs and rural and low-income Jordanians. impact is at the core of what we do. And that is the way we are challenging the status quo is by building digital financial products and services with Inclusivity and sustainability balance.  

Dinarak Utilizes technology to develop impact-driven and customer centric solutions covering customers, agents, merchants, business, and government needs.

Our network of mobile money agents (over 1450 locations) is spread all over the country making our services accessible to all especially the rural areas away from formal banking branches. Our agents are key in engaging and educating customers about our services and its importance thus bringing them into the formal financial system.

None of the existing solutions in the market have the reach, liquidity, and efficiency of our agent network.  None of the existing solutions in the market offer comprehensive, low fees and easy to use services to end users. We have also pioneered the bulk payment cash management system that is currently being used by private businesses, humanitarian agencies and NGOs, non-profits, and Government agencies to perform bulk digital payments into end-users’ mobile wallets. All our services are available via APIs for third party integration. We are currently integrated with hundreds of merchants and businesses (3000+ businesses) to facilitate payment disbursement, collection, and acceptance.

B2C: Youth and university students, Women, Refugees, MSMEs, rural residents, entrepreneurs, unbanked and under-banked, travelers (Dinarak visa cards).

Mobile wallet for individuals (P2P, P2B, P2G, Bill Payment, Merchant Payment, Dinarak Visa Card, International Remittances, Saving, Digital Marketplace).

B2B: Payment Acceptance/Acquiring at Merchants (Online and Offline), petty cash management, salary Disbursements, international remittances for factories/workers.

B2G: Government Programs and Humanitarian/Development agencies for bulk Government Subsidies disbursements.

We have demonstrated a strong product market fit while achieving lasting impact by balancing inclusivity with sustainability as follows across all target groups: 

-Increasing financial inclusion and literacy, lower fees services, Specialization in fintech and financial inclusion (going beyond just opening wallets), Islamic rules compliant services (culture compliant), financial inclusion and DFS education, capacity building, and Hands-on training to thousands of customers thus Increasing Digital Financial Services (DFS) utilization, awareness, adoption, and engagement.

- Convenience, speed, customer centric, around-the-clock customer service.  - Offering incentives and loyalty programs across our services to increase adoption and engagement.

-Dinarak was the first provider that entered the refugee camps onboarding thousands of refugees (most of them are women), conducting intensive business/market analysis inside and outside camps (host communities) as there is no access to formal financial services at rural areas and camps. Conducting DFS awareness and financial inclusion literacy plus hands-on training to increase DFS utilization, awareness, and adoption, offering TOT training (choosing ambassadors). 

-Dinarak has the biggest agents’ network; active, and widely spread. 

-Dinarak has the largest merchants’ network offering incentives and loyalty programs to motivate DFS engagement for economic growth. 

-Working with NGOs and governments agencies to digitally disburse funds to target groups. 

-Dinarak's core target proposition is aligned with the United Nation Sustainable Development Goals and CBJ CBR regulations to reduce inequalities and reduce high admin fees.

-Access to financial services such as low-cost remittance services, convenient DFS, Bill payment, QR merchants’ payment, saving, opening wallets by merchants and women agents for an additional income, and send/receive money in a convenient, useful, responsible, secured, affordable and low-cost manner.

-An example of promoting the financial inclusion of women and refugees across Jordan, a first of its kind in the Arab World, the female agent network helps to spur the economic empowerment of women, including those with limited incomes residing in various governorates that remain underserved by the banking sector. The female agent network project was carried out in cooperation with the Arab Women's Enterprise Fund (AWEF), aims to address barriers to women’s economic inclusion in (MENA) region.

-Several partnerships with NGOs for women, youth and refugee’s empowerment was done in cooperation with GIZ, AVSI and IRC, performing digital fund/aid subsidies disbursement (provide aid and support digitally) and DFS awareness. 

-Promoting social inclusion, reduced Costs services, improved Data Collection, supporting Livelihoods.

-Promoting women, youth, and refugee’s empowerment via creating opportunities to access finance, reach new customers, get additional income, build their own businesses, more belonging to their communities, more economic growth, lifting them out of poverty, and being more independent.

-Expertise in Fintech: Dinarak team have fintech expertise, conducting awareness and hands-on training to customers, promote education and capacity building. Receiving several training courses on financial inclusion and fintech. Dinarak team possesses a deep understanding of the fintech industry, with years of collective experience in developing innovative financial solutions. This expertise allows you to navigate the complexities of the sector, anticipate market trends, and deliver a mobile wallet solution that meets the evolving needs of consumers.

-Technological Proficiency: Dinarak team is highly skilled in cutting-edge technologies relevant to mobile wallet development, such as in-house mobile app development, data security, encryption, payment processing, and user experience design. This technical proficiency enables us to build a robust and secure mobile wallet solution that provides a seamless and intuitive user experience.

-User-Centric Approach:  Dinarak team prioritizes a user-centric approach, conducting extensive user research, gathering feedback, and conducting usability testing throughout the development process. This results in a product that meets customers’ needs, preferences, and expectations.

- We have experience navigating the complex regulatory environment as we are partners with CBJ to ensure Dinarak adheres to industry standards, data protection laws, and privacy regulations. This expertise instills trust and confidence.

-Scalability and Infrastructure plus Strong Cross-Functional Collaboration: considering all aspects of the user journey and delivers a seamless end-to-end experience.

-Agile Development Methodology with flexible, adaptable, and continuously improved based on user feedback and emerging industry trends.

-Passion for Innovation: with a shared passion for innovation and pushing boundaries in the fintech space. This drives the success stories one after the other and the impact for a local community development to explore new technologies, experiment with novel ideas, and challenge the status quo ensures that your mobile wallet solution stands out from competitors and delivers a truly innovative and transformative user experience.

-Strong Industry Network, Market Understanding, and Customer Support and Satisfaction are our core strengths in Dinarak (24/7).

-Data Analytics and Insights and Agile Decision-Making methodologies that adopted at Dinarak.

400,000 customers, 3000+ businesses, merchant and government agencies and 1000+ agents.

-Access to Resources and Support: MIT Solve offers resources, including mentorship, guidance, and access to a global community of innovators, experts, and investors. Dinarak team is very interested with this valuable resources. As a Solver, we can tap into these resources to gain valuable insights, receive feedback on solutions, and access potential funding opportunities.

-Validation and Credibility: as a Solver by MIT Solve lends credibility to our work and solution. It signifies recognition from a prestigious institution like MIT, in addition to our customer that we value most, which enhance our reputation, build stakeholders trust, and open doors to collaborations and partnerships. 

-Networking Opportunities: MIT Solve provides networking opportunities, connecting us with like-minded innovators, industry leaders, and potential collaborators. Through events, workshops, and conferences, we can expand our professional network, forge strategic partnerships, and learn from peers who are addressing similar challenges and we have experiences this actually via looking into other solutions in this challenge.

-Visibility and Exposure: As a Solver, we benefit from increased visibility and exposure to a global audience. MIT Solve showcases Solver solutions through its online platform, events, and media partnerships, providing a platform to amplify our impact and attract attention from investors, philanthropists, and organizations seeking innovative solutions and this is exactly what we need in this phase to scale up our solution.

-Funding and Investment Opportunities to multiply our impact worldwide: MIT Solve offers potential funding opportunities through grants, prizes, and partnerships with impact-focused investors. thus gain access to a network of funders who are interested in supporting impactful solutions, increasing our chances of securing the necessary funding to scale up our solution and impact.

-Collaboration and Learning encourages collaboration among Solvers for the exchange of ideas and expertise, leading to innovative solutions that tackle complex challenges more effectively.

-Exposure to Global Challenges: MIT Solve focuses on addressing pressing global challenges across various domains, including education, health, sustainability, and economic prosperity. thus gain exposure to these critical challenges, broaden your perspective, and contribute to solving world's most significant problems.

-Recognition and Impact Measurement.

Despite Dinarak has an international awards and recognition as follows: 

-Dinarak is proud to be recognized by Forbes Middle East as one of the Top 30 Fintech Companies in the Middle East

-Second Place in Deloitte Technology Fast 50 in Middle East and Cyprus

-Awarded “MENA FinTech Startup of the year 2020” by Abu Dhabi Global Market

- VISA Inclusive Fintech 50    

-Awarded the FinX “Financial Inclusion Initiative of the Year” by Fintech Galaxy

-Awarded the “Financial Inclusion Initiative” of the year by Seamless Awards

-Awarded EQUALS in TECH 2019. 

Adding MIT solver, we can leverage Dinarak' s resources, expertise, and network to accelerate our innovation, gain credibility, attract funding, and collaborate with other like-minded individuals and organizations. It offers us a unique platform to scale our solutions, address global challenges, and make a meaningful impact on a larger scale.

• A simple to use mobile applications for customers: Dinarak has developed its mobile applications using customer-centric approach suits our target group.  
• Understand customers needs aligned with financial literacy and outreach activities and community events and feedback; with simple and usable application.

• Integration with the national bill presentment system for bill payments,
• simple, secured and functional mobile application 
• building the largest agents and merchants network ( 1000+ agents; active, widely spread and self-resilient). 
• A cash withdrawal system that does not require a smart phone with internet access (feature phone will do) mainly geared towards low-income population and recipients of government subsidies (National Aid Fund)
• A self-service cash management system (web portal) for business and SMEs where they can pay bills, disburse salaries and vendor payments directly to their employees wallets Dinarak Mastercard
• Dinarak’s e-commerce plug-in which allows retailers to accept online payments directly from customers’ accounts and integration with other mobile apps
• Secondly, Dinarak’s unique outreach program makes its services highly accessible at rural areas via agents, Dinarak branches to educate the customer base and promoting financial literacy. 
• Thirdly, Dinarak is strongly committed to digital financial literacy and awareness and we utilize traditional and alternative channels to interact and convey our materials with our customer base. 

• Convenience and Accessibility: Dinarak offers users a convenient and accessible way to manage their financial transactions. It allows users to make payments, transfer funds, and access financial services anytime and anywhere through their mobile devices, also onboarding a strong partnership with GIZ that helps in building the largest agents and merchants network in Jordan thus more access to users. Partnering with AWEF to build agents network for empowering women and their economic, awareness and additional income (win-win situation in all our partnerships)

• Having differentiators features like Islamic rules compliant to be fit with the culture.

• Enhanced Security and Integration and Interoperability: Dinarak solutions aim to integrate with various payment systems, banks, merchants, Governments agencies, ministries, NGOs and service providers. 

• Personalization and Customization: Dinarak solution understands the importance of personalization. It allows users to customize their preferences, set spending limits, create budgets, and receive personalized recommendations based on their transaction history and financial behavior. By tailoring the experience to individual users, the solution becomes more relevant and valuable, fostering user engagement and loyalty.

• Value-Added Services: like loyalty programs, rewards, discounts, financial management tools, bill payments, peer-to-peer transfers, loan repayment, digital marketplace, donations and integration with other financial products to become a one-stop platform for users' financial needs.

• Integration of Emerging Technologies to unlock new possibilities for financial innovation.

• Collaborations and Partnerships with NGOs and third parties: Dinarak often seeks collaborations and partnerships with banks, merchants, fintech companies, ministries, government agencies, and other ecosystem players. By partnering with established institutions and leveraging their expertise and infrastructure, offering aid and support, fund subsidies disbursement, Dinarak expands its reach, tap into existing customer bases, and offer users a broader range of services and acceptance points plus awareness and additional income for gender inequality reduction and economic growth.

1. Financial Inclusion: Dinarak 's goal will continue to increase financial inclusion by providing access to financial services for underserved populations. To achieve this, the company focus on expanding its user base in areas with limited access to traditional banking services, partnering with local financial institutions, and implementing user-friendly interfaces that cater to diverse user segments. The company can also invest in financial literacy programs to empower users with the knowledge to effectively manage their finances as we have witnessing the success stories and impact have done via dinarak initiatives.

2. Digital Payments Adoption: Dinarak will continue to drive the adoption of digital payments and reduce reliance on cash transactions. To achieve this, the company can collaborate with more merchants and service providers to expand acceptance networks, offer incentives and rewards for digital transactions, and educate users and businesses about the benefits of digital payments. Additionally, strategic partnerships with more government agencies and regulatory bodies can help create an enabling environment for the widespread adoption of digital payments.

3. Sustainable Practices: Dinarak prioritizes sustainability and set goals to reduce its environmental footprint. This can involve initiatives such as minimizing paper usage, implementing energy-efficient technologies, promoting digital receipts and statements, and supporting green finance initiatives. Dinarak can also explore partnerships with sustainable organizations and incorporate environmentally friendly features into its mobile wallet solution.

4. Social Impact: Dinarak will continue to strive to create social impact by supporting causes and initiatives aligned with its values. This can involve donating a portion of transaction fees to charitable organizations, supporting community development projects, and empowering women and marginalized groups through financial inclusion programs. The company can actively engage with NGOs, social enterprises, and impact investors to identify areas where it can make a meaningful difference and contribute to positive social change.

5. Innovation and Technology Leadership: Dinarak will continue to be at the forefront of innovation and technology in the industry. To achieve this, the company can invest in research and development to enhance its mobile wallet solution with cutting-edge features such as biometric authentication, artificial intelligence, and blockchain integration. Regular updates and improvements to the user experience, security, and functionality of the mobile wallet can help Dinarak to offer a sustainable solution and stay ahead of the aggressive competition and deliver an exceptional user experience.

To achieve these impact goals, Dinarak will continue to develop a comprehensive strategy that includes elements such as market research, user feedback analysis, strategic partnerships, marketing and awareness campaigns, technology investments, and continuous evaluation of performance metrics. Collaboration with stakeholders, including governments, financial institutions, merchants, and user communities, will be essential to drive collective impact and achieve the desired outcomes over the next five years.

1. User adoption and engagement: increase financial inclusion and empower underserved populations. Measuring user adoption and engagement can provide insight into Dinarak effectiveness like number of new users, the frequency and volume of transactions, the percentage of users who are repeated customers.

2. Social impact metrics: tracking social impact metrics to measure progress toward impact goals, like number of people who have gained access to financial services through our platform, the percentage of transactions that are going to underserved communities, and the number of small businesses that have been able to grow or thrive as a result of using our platform.

3. Sustainability metrics: Dinarak is also committed to sustainability and reducing our environmental impact. Measuring sustainability metrics can include tracking things like energy consumption, carbon emissions, and waste reduction efforts and paper reduced...etc.

4. Data analytics: By analyzing transaction data, user behavior, and other metrics, Dinarak can identify trends and make data-driven decisions to optimize Dinarak platform for maximum impact.

Specifically:

UN SDG 1: No Poverty

1. Number of Users Lifted out of Poverty: Measure the number of users who have increased their income, savings, or financial stability through Dinarak.
2. Reduction in Financial Exclusion: Track the percentage of previously unbanked or underbanked individuals who gained access to financial services through us.
3. Economic Empowerment: Assess the impact on users' economic opportunities, job creation, and entrepreneurship facilitated by Dinarak.

UN SDG 5: Gender Equality

1. Gender Representation: Monitor the percentage of female users and assess efforts to ensure gender balance in user acquisition and engagement.
2. Financial Inclusion of Women: Measure the percentage of women who gained access to financial services through Dinarak.
3. Empowering Women Entrepreneurs: Track the number of women-owned businesses supported through Dinarak, including access to capital, financial tools, and business resources.

UN SDG 8: Decent Work and Economic Growth

1. Job Creation: Measure the number of job opportunities created indirectly through the growth of small businesses or entrepreneurial activities facilitated by Dinarak.
2. Support for Small Businesses: Track the number of small businesses that have received financial support or access to capital through Dinarak.
3. Economic Resilience: Assess the impact on users' financial resilience and ability to economic shocks through access to financial services and tools.

UN SDG 10: Reduced Inequalities

1. Financial Inclusion of Vulnerable Groups: Measure the extent to which vulnerable or marginalized groups, such as refugees, migrants, or low-income individuals, have gained access to financial services through Dinarak.
2. Income Distribution: Assess the impact on reducing income inequalities by tracking the distribution of financial benefits among users from different income levels.
3. User Satisfaction and Feedback: Regularly collect feedback from users to understand if Dinarak application is effectively addressing their needs and reducing inequalities.

1. Problem Statement: financial exclusion and limited access to affordable basic financial services by the unbanked and underbanked population in Jordan especially low-income Jordanians, refugees, women, youth for an economic growth 

2. Intervention: Development of an impact-driven and customer centric mobile payment platform with innovative financial products and services done in a convenient, cost effective, affordable, responsible, useful, sustainable and secure manner with a focus on underserved segments including women, youth, refugees, migrant workers, MSMEs and rural and low-income Jordanians). impact is the at the core of what we do. And that is the way we are challenging the status quo is by building digital financial products and services with Inclusivity and sustainability balance.

3. Assumptions: Digital financial services can enhance financial inclusion and increased access to financial services that can empower target group to make informed financial decisions and economic growth. More financial inclusion literacy, DFS awareness and hand-on training will empower the target group and increase DFS awareness, adoption, utilization and engagement thus impacting our beloved community.

4. Impact Pathway: better access to financial services and usage, enhance regulations, maximize adoption, improved financial literacy, enhanced financial resilience, and ultimately, economic empowerment and reduced poverty plus women empowerment and reduced inequalities.

5. Key Stakeholders: GIZ, Government National aid fund, CBJ, JOPACC, AWEF, all Municipalities in Jordan, Mercy Corps, USAID, IRC, AVSI..etc

6. Monitoring and Evaluation: Measuring outcomes and impact, tracking user adoption and engagement, and collecting feedback from stakeholders...etc

7. Adaptation and Learning: Emphasize a culture of continuous learning, adaptability, and responsiveness to ensure that Dinarak remains effective and relevant in achieving its social objectives and adhere to the regulations of central bank of Jordan.

8. Activities:

   
   

   1. Technology Development: Developing and maintaining innovative financial technology solutions such as mobile wallet platforms and payment systems.
   2. User Acquisition and Engagement: Implementing strategies to attract and onboard users to Dinarak application and ensuring their ongoing engagement through user-friendly interfaces, personalized experiences, and value-added services.
   3. Partnership Development: Collaborating with financial institutions, merchants, NGOs and other stakeholders to expand the reach and functionality of Dinarak solutions.
   4. Financial Education and Literacy: Conducting financial education programs and providing resources to enhance financial literacy among users, empowering them to make informed financial decisions.
   5. Data Analysis and Insights: Utilizing data analytics to gain insights into user behavior, transaction patterns, and market trends to improve Dinarak products and services.
   Outcomes:
   1. Financial Inclusion: Increasing access to affordable financial services and reducing barriers to financial inclusion for underserved populations.
   2. Enhanced Financial Capability: Empowering individuals with the knowledge and skills to manage their finances effectively and make informed financial decisions.
   3. Improved Efficiency and Convenience: Streamlining financial processes, reducing paperwork, and providing convenient and secure digital solutions for transactions and financial management.
   4. Increased Economic Opportunities: Enabling small businesses and entrepreneurs to access financial tools, capital, and market opportunities for growth and economic empowerment.
   5. Sustainable Development: Contributing to sustainable development goals by promoting responsible financial practices, supporting environmentally friendly initiatives, and fostering economic resilience in communities.

   
   

1. Mobile Applications: Dinarak solution relies on mobile applications developed for different platforms like iOS and Android. These applications provide the interface through which users can access their digital wallets, make payments, transfer funds, and access other financial services.

2. Secure Data Storage: The core technology includes secure data storage systems to store user information, transaction data, and account details. Robust encryption algorithms and security protocols are employed to protect user data from unauthorized access and ensure privacy.

3. Payment Gateway Integration: solution integrates with payment gateways to facilitate transactions between users and merchants. This integration allows for seamless and secure processing of payments, ensuring that funds are transferred accurately and efficiently.

4. Digital Identity and Authentication: To ensure secure access to the mobile wallet, the core technology incorporates digital identity and authentication mechanisms. This includes biometric authentication (fingerprint or facial recognition), PIN codes, or two-factor authentication to verify the user's identity before granting access to the wallet and authorizing transactions.

5. Integration with Financial Systems: Dinarak solution integrates with financial systems such as banks, payment networks, CBJ, merchants, and other financial institutions. This integration enables users to link their bank accounts or payment cards to the mobile wallet, facilitating fund transfers, balance inquiries, and seamless transactions.

6. API Integrations: The core technology leverages Application Programming Interfaces (APIs) to integrate with various external systems and services. This allows the mobile wallet to interact with third-party applications, merchant platforms, loyalty programs, and other financial services, expanding the functionality and value proposition of the solution.

7. Security Measures: The core technology employs multiple layers of security measures to protect user data and transactions. This includes encryption of sensitive information, secure protocols for data transmission, monitoring for suspicious activities, and fraud detection mechanisms.

8. Analytics and Reporting: The core technology incorporates analytics and reporting capabilities to provide insights into user behavior, transaction patterns, and performance metrics. This helps Dinarak to optimize the user experience, detect trends, and make data-driven decisions for business growth.

1. Diverse Workforce: Foster a diverse and inclusive workforce by implementing inclusive hiring practices including from all Jordanian cities and rural areas, promoting diversity in leadership roles, and creating an inclusive workplace culture that values and respects differences.

2. User-Centric Design: Prioritize user research and engagement to understand the diverse needs, preferences, and challenges of Dinarak target group. Incorporate user feedback and co-design processes to ensure Dinarak solution meets the needs of a wide range of users, including those from marginalized or underserved communities.

3. Accessibility: Design Dinarak solution to be accessible to unserved and underserved individuals and compatible with assistive technologies and follows accessibility guidelines.

4. Financial Inclusion: Implement initiatives and features that promote financial inclusion, such as low-barrier account opening, self registration, affordable transaction fees, responsible, useful,  and tailored financial products for underserved populations. Address language barriers and provide multilingual support to ensure accessibility for diverse communities like Bengali users with the international remittances (dinarak has a Bengali interface to adopt with their needs).

5. Data Privacy and Security: Uphold privacy and security standards to protect the personal information and financial data of all users, regardless of their background. Clearly communicate Dinarak data protection measures and obtain informed consent for data collection and usage.

6. Collaborations and Partnerships: Engage with diverse stakeholders, including community organizations, NGOs, and government agencies, to develop partnerships and collaborations that foster inclusivity and address the specific needs of marginalized communities.

7. Continuous Learning and Improvement: Foster a culture of continuous learning and improvement by actively seeking feedback, conducting impact assessments, and regularly reviewing Dinarak best practices and policies through an equity lens as well as use the insights gained to make necessary adjustments and enhancements.

8. Employee Training and Awareness: Provide training and awareness programs for Dinarak employees (and target group as well) to promote cultural competency, unconscious bias awareness, and inclusive practices. Encourage dialogue and open discussions about diversity and equity within Dinarak.

9. Transparent Communication: Communicate openly and transparently with Dinarak users, stakeholders, and the wider community about Dinarak commitment to diversity, equity, and inclusivity. Share updates on initiatives, progress, and challenges, and seek input and engagement from diverse voices.

By incorporating diversity, equity, and inclusivity into Dinarak work, we create a more equitable and accessible Dinarak solution that benefits a wide range of users, reduces inequalities, and promotes social impact.

1. Transaction Fees: One of the primary revenue streams for Dinarak is charging transaction fees. These fees are applied to various types of transactions, such as peer-to-peer transfers, merchant payments, bill payments, or international remittances. The fees are based on a percentage of the transaction amount or a flat fee.

2. Merchant Services: Another revenue source is offering merchant services, where businesses can accept payments through Dinarak merchant application. This includes providing point-of-sale (POS) systems, payment processing, and value-added services for merchants, such as inventory management or customer analytics. Revenue is generated through transaction fees/subscription-based pricing for merchants.

3. Interest Income: Dinarak includes savings or investment features, this generates revenue through interest income. By partnering with financial institutions /offering Dinarak saving product (financial products), Dinarak earns interest on user deposits, saving and investments held within the mobile wallet.

4. Cross-Border Payments: Dinarak facilitates cross-border payments and visa cards, we generate revenue through foreign exchange services or fees associated with international transfers and cards usage. This includes offering competitive exchange rates and charging lower-fees for currency conversion or remittance services.

5. Partnerships and Strategic Collaborations: Collaborating with financial institutions, merchants, NGOs, Government Agencies, or other service providers leads to revenue-sharing partnerships. For example,

   • Dinarak loyalty and rewarding application with QR-code payment increase merchants’ acceptance and charge our partner for turning the first mall in Jordan into an electron mall, Dinarak earns commissions for driving business to partner with financial institutions like in Jordan partnering with mecca mall and trust technologies for loyalty program via QR at merchants.

1. Diversify Revenue Streams: Explore opportunities to diversify Dinarak revenue streams beyond transaction fees. offering additional services such as merchant services, premium features, cross-border payments, or value-added financial products. This helps reduce reliance on a single revenue source and creates new avenues for generating income

2. Expand User Base: Continuously focus on growing Dinarak user base to increase transaction volumes and revenue potential. we always develop marketing strategies to acquire new users and retain existing ones. Target specific customer segments or demographics that align with Dinarak value proposition and tailor Dinarak marketing efforts accordingly.

3. Partnership and Collaboration: Seek strategic partnerships and collaborations with financial institutions, merchants, NGOS, governmental agencies, global or other service providers. These partnerships can provide access to new markets, customer segments, and revenue-sharing opportunities. Identify potential partners that can complement Dinarak offering and create mutually beneficial relationships.

4. Focus on User Engagement and Retention: Enhance user engagement and retention by providing a seamless user experience, personalized services, and regular feature updates. Offer loyalty programs, rewards, and incentives to more encouraging an ongoing usage and loyalty. By maximizing user satisfaction and retention, Dinarak increases the lifetime value of Dinarak customers.

5. Cost Optimization: Carefully manage Dinarak operating costs and optimize Dinarak business operations to improve efficiency. Evaluate Dinarak infrastructure, technology systems, and processes to identify areas where cost savings can be achieved without compromising quality or security. Regularly review and renegotiate vendor contracts to ensure favorable terms.

6. Compliance and Risk Management: Prioritize compliance with regulatory requirements and invest in robust risk management practices. This includes implementing strong security measures, adhering to privacy regulations, and staying updated on evolving industry standards. Mitigating risks and maintaining a trustworthy reputation are crucial for long-term sustainability.

7. Innovation and Adaptability: Embrace innovation and stay ahead of market trends to remain competitive. Continuously assess customer needs and preferences, monitor industry advancements, and invest in research and development. Be willing to adapt Dinarak solution to meet evolving user expectations and industry changes.

8. Financial Planning and Forecasting: Develop comprehensive financial plans and projections to guide Dinarak business decisions. Conduct regular financial analyses, monitor key performance indicators, and adjust Dinarak strategy as needed. Consider seeking expert financial advice or consulting services to ensure accurate forecasting and sound financial management.

We have 400,000 customers, 3000+ merchants, 1000+ agents network in Jordan, one of main players in Jordan. With 2 billions US Dollars circulated in our system.  The number of Active users monthly increases (160000 active users). We have generated more than 5 Million USD in revenue and received around 1 Million USD in grant funding.