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Dinarak

“Can a Central Bank of Jordan-licensed mobile wallet become the primary financial services platform for Jordan's large unbanked population by combining ultra-low-cost digital payments with a physical agent network?”

Founded2014
HQAmman, Jordan
FoundersKhaldoun Mahmoud, Loay Sehwail
IndustryFintech / Mobile Wallet
The story

Founded in 2014 to address financial exclusion in Jordan, Dinarak launched as a JoMoPay-licensed mobile wallet in 2015, targeting the 75% of Jordanians without bank accounts. The company built a nationwide agent network of 1,000+ service points and expanded from basic P2P transfers to bill payments, merchant QR payments, salary disbursements, and a Mastercard-linked card. Dinarak's embedded finance strategy focuses on serving unbanked and underbanked consumers using basic mobile handsets, positioning itself as the lowest-cost digital financial services provider in the Jordanian market.

Last 12 months
2025-07
Product timeline
2014
Dinarak established to become a licensed payment services provider under the Central Bank of Jordan's JoMoPay system.· banking
2015
Dinarak attained Central Bank of Jordan final approval and launched as a mobile wallet under JoMoPay.· banking
2016
Awarded full license from the Central Bank of Jordan to operate as a mobile payment services provider.· banking
2025
Mastercard collaborates with Dinarak to advance financial inclusion in Jordan, launching a Mastercard-linked e-wallet card.· card
Regulated entities
1
regulatory licence held by Dinarak
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in Dinarak’s embedded-finance stack
Payments / PSP
Dinarak (self-operated)
Card network
in the full report
Accounting gap: none
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.