MadfooatCom for Electronic Payments is a FinTech company based in Jordan. MadfooatCom was established in 2011 with partnership and support from Oasis500 (Funded by King Abdullah II Fund for Development), in addition to partnering up with strategic shareholders from Jordan and the GCC.
MadfooatCom provides a centralized electronic bill presentment and payment (EBPP) services platform.
The platform connects banks and payment service providers with billers and merchants to facilitate online, real-time secure bill inquiry and bill payment services through electronic channels, which are available 24/7.
In 2013, MadfooatCom won a tender offer for the Central Bank of Jordan to build, operate and administer the country’s national electronic bill presentment and payment system, called eFAWATEERcom.
The eFAWATEERcom Integration Interface (EFII) is a web service communication module that enables banks, billers and payment service providers (PSP) to send and receive financial requests through the eFAWATEERcom platform for bill presentment and payment.
The platform gives all parties the privilege of flashy payments, saving time and headache of long processed transactions, by means of secured payment channels with 24/7 availability.
In January 2015, the service went live and now residents living inside and outside of Jordan can inquire and pay their bills online at their own convenience.
Since its inception, eFAWATEERcom has processed more than 78 million dollars. This included successfully processing more than 630,000 transactions and more than 6.5 million inquiries. The services offered through the platform are 125, sourced from 46 live billers, which includes all telecom companies and utilities, as well as 23 banks.
In February 2015, MadfooatCom launched a new portal eFAWATEERcom.jo, which was powered by MasterCard and is owned by CBJ.
The purpose of this new portal was to target credit card users who are interested in using the services. This new portal allows clients to inquire, review, settle their bills and safely recharge their prepaid mobile lines online using all payment card types (MasterCard, VISA, etc.) that are accepted by MiGS from all around the globe via a unified system, consequently saving time and effort.
MadfooatCom has received several awards and recognitions. In 2011, MadfooatCom received the “Best Use of Technology in The MENA Region” from Wamda in UAE. In 2012, it was Awarded the “Queen Rania National Entrepreneurship Award”, in 2014 MadfooatCom was awarded the Central Bank project to build and operate the national electronic bill presentment & payment service (EBPPS) in Jordan; and the “Best SME Award” in Jordan.
