Socio-economic determinants and barriers of financial inclusion: evidence from Jordan

Purpose This paper examines the socio-economic determinants and barriers to financial inclusion in Jordan. This study aims to evaluate how demographics, education and income levels influence the usage of varied financial services, from basic bank accounts to digital mobile money. Design/methodology/approach Using repeated cross-sectional microdata from the World Bank’s Global Findex surveys across five waves: 2011, 2014, 2017, 2021 and 2025. The empirical analysis is primarily conducted using a Linear Probability Model, with a Probit model employed for robustness. Findings Identify education as the most potent predictor of inclusion is substantially boosting participation in formal savings and mobile money. While women show a slight lead in basic account ownership, they lag behind men in credit and mobile payment adoption, with no significant gender education difference effect observed. Income remains a critical determinant, with the wealthiest quintile dominating card and account usage. Barrier analysis reveals that women are primarily hindered by distance, the elderly by lack of funds and the less educated by documentation requirements. Notably, a high reliance on family members’ accounts persists as a significant informal substitute for individual formal inclusion across all groups. Originality/value This research provides a context-specific evaluation of Jordan’s financial landscape during a critical policy transition. By diagnosing group-specific barriers, it offers actionable evidence to implement targeted interventions, such as free basic accounts, fee-free domestic online transfers and simplified tiered Know Your Customer systems, to enhance equitable financial access and promote a less-cash society.