Madfooatcom is a Jordanian P.S.C company that was established in 2011 with support from Oasis500 (funded by the Kind Abdullah II Fund for Development), and with strategic shareholders from Jordan
and the GCC. It provides an online, real-time Electronic Bill Presentment and Payment (EBPP) service, which enables customers to inquire about and pay their bills anytime, anywhere.\
In 2014, MadfooatCom won the Central Bank of Jordan’s tender to build and operate eFAWATEERcom, the national EBPP service for Jordan. eFAWATEERcom connects over 170 billers, accounting for 380 services, to all banks in the country.
As of the start of 2019, 18 million bills with a value of 10 billion JOD have been processed through eFAWATEERcom’s system. Customers who pay through the eFAWATEERcom service save time, petrol costs and the hassle of visiting multiple biller branches. They benefit from a variety of electronic payment channels to choose from, such as the eFAWATEERcom website, the eFAWATEERcom mobile application,
as well as their bank’s web banking, mobile banking and ATM machines. For those customers who need to pay in cash, a growing agent network across the country offers the convenience of paying all bills
in one location. Through any of the eFAWATEERcom channels, customers’payments are processed instantly, and they receive an SMS notification to confirm the successful payment. The MadfooatCom platform also serves billers by increasing payment collections, reducing queuing in branches, and ensuring automatic and timely transactions into the billers’ accounts using the banks’ systems. So far, 80% of billers in Jordan have been integrated including 60% of Government, 100% of Utility and 100% of Telecommunication companies.
The business model centers on a service fee that is charged per transaction. In many cases, the biller absorbs this fee on behalf of its customers, while in some cases it is passed onto the customer. The fee structure is tier-based and variable depending on the payment value and biller sector.
The eFAWATEERcom service is under the supervision of the Central Bank of Jordan and adopts the highest security standards to ensure that customers’ payments are processed safely. The MadfooatCom technology that underpins the eFAWATEERcom service is the only technology in the country that enables Jordanians to pay their bills electronically in one place.
MadfooatCom also offers DirectPay, the only payment method that directly debits users’ bill amounts from their Jordanian bank accounts without any extra card fee applied.
Other electronic payment methods Key Staff available include credit cards and all of the mobile wallets in Jordan. MadfooatCom’s business is headquartered in Amman, Jordan, and comprises a team of 70
people. The company is now also operational in the Omani market, with a small office there. Other markets where it is in the process of going live are Palestine and Iraq. Future expansion plans include Algeria, Morocco and Albania.
