Middle East Payment Services Company is committed to adhering to the best global practices in establishing standards and requirements for accessing electronic payment systems in a professional and skilled manner to ensure fair and secure participation in the following systems:

• The electronic payment system for processing and authorizing financial transactions on cards through integration with the payment infrastructure (connecting ATM networks, point-of-sale terminals, and e-commerce within a unified network).
• The Real-Time Gross Settlement (RTGS) system for managing and organizing clearing or settlement operations for transactions conducted between participants in the electronic payment system through settlement linkage.

Methods of participation and integration with the payment infrastructure through the ATM network, point-of-sale (POS) terminals, and e-commerce:

• Direct Participation: Companies, institutions, or banks are directly connected to the payment system services and governed by its rules. Transactions are cleared and documented in the system through this direct connection. Therefore, all direct participants in settlement must join as direct participants in the integration with the infrastructure.
• Indirect Participation: Companies, institutions, or banks are indirectly connected to the payment system services and usually are not directly governed by the payment system rules. Their transactions are cleared and documented in the payment system through a direct participant. Indirect participation is made possible through a bilateral agreement with a direct participant.

Settlement Methods through Integration with the Real-Time Gross Settlement (RTGS) System:

• Direct Participants in Settlement: All institutions/companies with a settlement account at the Central Bank of Jordan must join the system as direct participants in both the settlement and the system. This is done through direct participation in the Real-Time Gross Settlement (RTGS) system owned and operated by the Central Bank of Jordan. Participants in settlement maintain settlement accounts at the Central Bank of Jordan, enabling direct settlement of transactions cleared through other payment systems.
• Indirect Participants in Settlement: Institutions/companies not directly participating in the RTGS system owned and operated by the Central Bank of Jordan must join as indirect participants in settlement. Indirect participants in settlement settle transactions cleared through a direct participant in settlement, governed by bilateral agreements between the direct and indirect participants in settlement.

The following are the minimum standards and requirements that clients (institution/company/bank) must adhere to for participation and access to electronic payment systems. This ensures fair and transparent participation and a successful business relationship between Middle East Payment Services Company and its clients:

• Compliance with legal and regulatory requirements and adherence to the legislation and instructions issued by the central bank related to this field.
• Commitment to fully or partially implementing the provisions of the governance and management of information and related technology in accordance with the nature of the participation, programs, and infrastructure provided for connecting to electronic payment systems.
• Compliance with all local and international laws, legislations, regulations, and instructions concerning anti-money laundering and combating the financing of terrorism.
• Meeting the technical and operational requirements specific to the relevant electronic payment systems. Middle East Payment Services Company will verify the ability of the company/institution/bank to meet its technical and operational requirements before making a decision on the connection method.
• Implementation of cybersecurity practices, including necessary security measures and international standards in this regard, in line with the nature of the participation, programs, and infrastructure provided for connecting to electronic payment systems, based on the provisions of the cybersecurity risk adaptation instructions issued by the Central Bank of Jordan.
• Clarification of the nature and type of transactions the institution/company/bank intends to perform on Middle East Payment Services Company's payment systems, within the licenses granted to the client by the Central Bank of Jordan.
• Immediate disclosure of breaches/violations/incidents that led to non-compliance with the documented standards, in addition to those mentioned in the laws or legislations, specifying the nature of these breaches/violations and the measures the client will take to address such incidents.
• Availability of a dedicated complaints unit within the institution/company/bank to receive and handle customer complaints in accordance with the instructions issued by the central bank in this regard.
• Availability of a risk management policy and business continuity plans within the company/institution/bank, in accordance with the standards and principles specified by the central bank, ensuring the availability, confidentiality, and protection of data in case of any emergency disruption.
• Availability of an information security policy and effective controls for encrypting and protecting sensitive information during its transmission or storage by the company/institution/bank.
• Submission of records and documents that support and demonstrate the client's compliance with relevant laws and legislations to the extent required by those laws and legislations.
• Submission of the ownership structure/internal ownership regulations, ownership percentages, authorized signatories, board of directors members, and senior management.

In the event of a participant violating the system's rules and terms of operation or failing to meet participation standards and requirements, several actions will be taken based on the nature and extent of the breaches and violations and the level of non-compliance with the documented standards. These actions include the following:

• The violating party must take responsibility for any shortcomings in compliance with the instructions and legal and regulatory requirements issued by the central bank related to this field.
• Issuing formal notices to the violating party, stating that continued non-compliance with the agreed-upon standards will lead to more stringent measures.
• Immediate termination and suspension of the agreement for an orderly exit of non-compliant participants or those who have not met the participation requirements, accompanied by a prohibition on re-engagement with the company.
• Referring to Jordanian law in the event of any disputes between the participating parties and Middle East Payment Services Company.