Pay your bills with ease: MadfooatCom Transforms Electronic Billing and Payments | MENA startups, innovation, and tech news

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Pay your bills with ease: MadfooatCom Transforms Electronic Billing and Payments
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Pay your bills with ease: MadfooatCom Transforms Electronic Billing and Payments

MadfooatCom is the first e-payments company based in Amman, Jordan, established in 2011 with an investment by Oasis500, seeking to disrupt the cash payments in the emerging markets.Ithas created a next-generation, real-time electronic bill presentment and payment (EBPP) platform that allows customers to make payments seamlessly and securely, online or via mobile.

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Founders

Nasser Saleh, CEO: Nasser brings his top-tier entrepreneurial experience of over two decades in the banking and IT sectors in the MENA. He was the CIO of Jordan’s second fiscal reform program before launching MadfooatCom. Previously, he worked at the Al Rajhi, one of the largest banks of Saudi Arabia, where he managed programs for retail, commercial and corporate banking divisions, along with e-trading and payments programs. He has also worked as a senior advisor at Accenture in Saudi Arabia and was a senior engineer at Microsoft in the USA.

In 2017, Nasser was awarded the distinguished Medal of Excellence by Jordan’s King Abdullah II ibn Al Hussein for establishing the country’s acclaimed electronic billing and payment gateway in partnership with the Central Bank of Jordan.

Company Type

For-Profit

Total Funding Amount

$7.8 million

In 2014, MadfooatCom won the bid for the Central Bank of Jordan’s project to build and operate its state-of-the-art platform eFAWATEERcomand has since then processed over 50 million invoices valued at USD 33 billion (as of November 2020). Financial institutions, telecoms, government agencies, utilities, non-profits, and trade organizations all use their solution. MadfooatCom partners with most banks and billers in Jordan to offer friction-free customer experiences, reduced collection cycles, and the industry’s highest level of controls. With MadfooatCom, any kind of billing transaction can be accommodated regardless of industry or market.

Unlocking opportunities in the digital age for consumers, billers, and financial institutions across the region.

  • Billers

People can make payments when and how they want; seamlessly integrating transactions into their busy lives. Billers can serve customers through their desired channels while improving cash flow, reducing costs, and driving satisfaction. The MadfooatCom team makes the process easy to implement and maintain, enabling billers to focus on their core business.

  • Banks

MadfooatCom serves most banks in Jordan and is on the move across the region. Why? Their integrated solutions keep pace with growing institutions. The region’s most experienced financial services team is well-equipped to serve any bank, large or small.

  • Government

In the digital age, government agencies face challenges similar to private sector organizations — attaining productivity and fulfilling channel preferences in real-time. MadfooatCom’s scalable and secure platform offers unmatched convenience while managing risk at the same time. It aims to make public transactions paperless.

MadfooatCom is an acclaimed leader in financial services technology and has made it possible for consumers in the MENA region and beyond to view and pay their bills with ease, comfort and speed. In October 2020, MadfooatCom secured a spot in Forbes Middle East’s list for the 50 most funded startups in the region.

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