The Reality of Electronic Payment in Achieving Clearing by Means of Electronic Cheques- Jordanian Legislation

Ahmad Alsharu

Irbid National University

In contracts, a payment is a law-imposed obligation. The expansion of e-commerce resulting from technological development has created electronic payment. Similarly, the electronic payment mechanism needs to be cleared through legal regulation via a service provider, including electronic clearing as a form of banking compliance. This descriptive study examined the stance of the Jordanian legislator in electronic payment regulation through electronic Cheque clearing. Applicable laws including the British law were elaborated and compared, to facilitate the Jordanian legislation in the development of electronic payment systems via electronic clearing of Cheque. The study found insufficiency of the Electronic Transactions Law 2015 (ETL) in regulating electronic payment. This study recommended adding some legal provisions on the electronic payment methods and definitions of civil liability in the Jordanian Electronic Transactions Law. Also, the Jordanian Trade law 1966 needs to be amended to accommodate the data on the electronic Cheque as an electronic payment mode via electronic clearing.

Article link: https://www.asianinstituteofresearch.org/lhqrarchives/the-reality-of-electronic-payment-in-achieving-clearing-by-means-of-electronic-cheques--jordanian-legislation