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MadfooatCom

“Can a national bill-payment infrastructure operator become the dominant digital payments and financial technology platform across the MENA region?”

Founded2011
HQAmman, Jordan
FoundersNasser Saleh (Executive Chairman & Founder)
IndustryFintech / Cross-border payments
The story

Founded in 2011 with backing from Oasis500 and GCC investors, MadfooatCom started as a centralized electronic bill presentment and payment (EBPP) platform in Jordan. The pivotal moment came in 2013 when it won the Central Bank of Jordan tender to build and operate eFAWATEERcom, the country's national digital payment infrastructure. The company has since expanded its footprint across the MENA region (Palestine, Oman, Saudi Arabia, Morocco) and broadened from pure consumer bill payment into corporate finance and governmental transaction processing, positioning itself as Jordan's leading fintech infrastructure provider.

Last 12 months
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Product timeline
2011
MadfooatCom founded in Amman, Jordan with support from Oasis500 and strategic shareholders from Jordan and the GCC.· pivot
2013
Won tender from Central Bank of Jordan to build, operate and administer Jordan's national electronic bill presentment and payment system, eFAWATEERcom.· banking
2020
eFAWATEERcom platform processed over 50 million invoices valued at USD 33 billion as of November 2020.· banking
2022
Regional expansion to Palestine, Oman, Saudi Arabia, and Morocco in addition to core Jordan operations.· pivot
Regulated entities
1
regulatory licence held by MadfooatCom
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in MadfooatCom’s embedded-finance stack
Money movement
RTP
Accounting gap: none