MadfooatCom

Cover Block

Attribute	Detail
Name	MadfooatCom
Tagline	EBPP platform enabling 24/7 bill payments via Jordanian banks and channels
Headquarters	Amman, Jordan
Founded	2011
Stage	Growth / Late Stage
Business Model	B2B2C
Industry	Fintech
Technology	Software (Non-AI)
Geography	Middle East / North Africa
Growth Profile	Venture Scale
Founding Team	Solo Founder
Funding Label	Undisclosed

Links

• Website: https://efawateercom.jo
• LinkedIn: https://www.linkedin.com/company/madfooatcom/

Data Accuracy: GREEN -- URLs confirmed via company's official portal and public LinkedIn profile.

Executive Summary

MadfooatCom operates the foundational electronic bill payment infrastructure for Jordan, a position secured through a 2011 tender from the Central Bank of Jordan to build and operate the national eFAWATEERcom platform [Jordan ICT, 2017]. The company's strategic relevance stems from its role as a quasi-utility, connecting every bank, mobile wallet, and payment service provider in the country to over 600 billers, which has translated into processing volumes exceeding $18.6 billion annually [Forbes Middle East, 2025]. Founded by Nasser Saleh with initial backing from accelerator Oasis500, the company has scaled to become the dominant electronic bill presentment and payment (EBPP) channel in its home market [Crunchbase]. Its core product, eFAWATEERcom, is owned by the Jordan Payments and Clearing Company (JoPACC) and supervised by the central bank, with MadfooatCom serving as the technology operator [eFAWATEERcom].

Taxonomy Snapshot

Axis	Classification
Stage	Growth / Late Stage
Business Model	B2B2C
Industry / Vertical	Fintech
Technology Type	Software (Non-AI)
Geography	Middle East / North Africa
Growth Profile	Venture Scale
Founding Team	Solo Founder
Funding	Undisclosed

Data Accuracy: YELLOW -- Core operational metrics and corporate structure are confirmed by multiple sources, but funding details and specific team backgrounds lack independent corroboration.

How the Company Got Here

MadfooatCom was established in 2011 as a private shareholding company in Amman, Jordan, with an explicit mandate to digitize cash-based bill payments. The founding was catalyzed by an investment from the accelerator Oasis500, which is itself backed by the King Abdullah II Fund for Development [Crunchbase]. The company's core mission from inception was to build and operate a nationwide electronic bill presentment and payment (EBPP) platform, a project that materialized as eFAWATEERcom following a formal tender awarded by the Central Bank of Jordan [Jordan ICT, 2017].

Operating eFAWATEERcom under the supervision of the Central Bank and its subsidiary, the Jordan Payments and Clearing Company (JoPACC), provided MadfooatCom with a foundational monopoly on the technical infrastructure for digital bill payments across the kingdom [eFAWATEERcom]. This regulatory endorsement enabled the integration of all Jordanian banks, mobile wallets, and payment service providers into a single network [VC4A].

Scale followed the establishment of this network. The platform processed 50 million invoices worth $33 billion by November 2020 [AmCham Jordan, 2020]. Transaction volume grew to 42.5 million payments valued at $14.7 billion by 2022 [All Multidisciplinary Journal, 2023], and reached over 66.1 million transactions worth $18.6 billion in 2024 [Forbes Middle East, 2025]. The biller network also expanded, covering more than 600 entities and over 1,700 distinct services by 2024 [Forbes Middle East, 2025].

Data Accuracy: YELLOW -- Founding details and the Central Bank tender are well-corroborated. Transaction milestones are reported by multiple outlets, but specific annual figures vary across sources.

Product and Technology

The company's core asset is a single, government-mandated platform that functions as the national electronic bill presentment and payment (EBPP) rail for Jordan. eFAWATEERcom, built and operated by MadfooatCom under a Central Bank of Jordan tender awarded post-2011, is the only technology in the country enabling electronic bill payments in one place [Jordan ICT, 2018]. The product is a B2B2C software layer that connects over 600 billers covering more than 1,700 distinct services directly to consumers via their preferred bank or payment channel [Forbes Middle East, 2025]. This integration is comprehensive, reportedly linking 100% of Jordanian banks, all major mobile wallets, and hundreds of payment service providers and agents into a single interoperable network [VC4A].

From a user perspective, the technology enables 24/7 bill inquiry and payment through channels like internet banking, mobile apps, ATMs, and interactive voice response (IVR) systems. More than 80% of eFAWATEERcom users access the platform via mobile or tablet [Jordan Times]. The underlying software is described as a real-time system. An academic case study references the use of AI and blockchain for operational efficiency [All Multidisciplinary Journal, 2023].

Data Accuracy: YELLOW -- Platform scope and mandate are well-documented; specific technical stack and proprietary IP claims are less corroborated.

Where the Demand Sits

The market for national electronic bill payment platforms in emerging economies is defined by a single, powerful driver: the central bank's mandate to modernize financial infrastructure and reduce systemic reliance on cash.

eFAWATEERcom, operated by MadfooatCom, processed over 66.1 million transactions worth $18.6 billion in 2024 alone [Forbes Middle East, 2025]. Demand is propelled by a confluence of regulatory and consumer trends. The Central Bank of Jordan's direct tender for a nationwide EBPP system created the foundational demand [Jordan ICT, 2017]. Subsequent tailwinds include high mobile penetration, with over 80% of eFAWATEERcom users accessing the platform via mobile or tablet [Jordan Times], and a broader regional push across MENA for financial inclusion and digital government services. The platform's growth to over 600 billers covering 1,700 services by 2024 indicates deepening adoption across utilities, telecom, and government sectors [Forbes Middle East, 2025].

Metric	Value
Processed Volume 2020	$33B
Processed Volume 2022	$14.7B
Processed Volume 2024	$18.6B

Data Accuracy: YELLOW -- Market sizing inferred from processed volume metrics; core regulatory driver and platform scale confirmed by multiple sources.

Competitive Landscape

MadfooatCom's competitive position is defined by its role as the designated national operator of a critical financial utility, a status that creates a high initial barrier but also attracts competition from adjacent payment services.

The company's primary competitive surface is the electronic bill presentment and payment (EBPP) segment within Jordan. Its flagship platform, eFAWATEERcom, was built under a Central Bank of Jordan tender and is described as "the only technology in Jordan enabling electronic bill payments in one place" [Jordan ICT, 2018].

Company	Positioning	Stage / Funding	Notable Differentiator
MadfooatCom (eFAWATEERcom)	National EBPP utility operator	Growth Stage; total raised $2.4M (estimated)	Mandated central aggregator under Central Bank of Jordan supervision
Zain Cash	Mobile financial services wallet	Part of publicly traded telecom group	Leverages massive existing telecom subscriber base
Orange Money	Mobile money service	Part of publicly traded telecom group	Strong brand recognition and retail distribution

Data Accuracy: YELLOW -- Competitor identification is public, but detailed funding and differentiation for rivals are not consistently verified. MadfooatCom's scale metrics are confirmed by recent Forbes Middle East reporting.

Opportunity

The prize for MadfooatCom is the transformation of its national utility into a regional financial infrastructure layer, capturing the long-term value of digitizing cash-heavy economies. The headline opportunity is to become the default, regulated payment rail for non-discretionary spending across the Middle East. The company already operates a de facto national monopoly in Jordan through eFAWATEERcom, a platform built under a Central Bank tender and described as "the only technology in Jordan enabling electronic bill payments in one place" [Jordan ICT, 2018]. The evidence for reachability is the existing scale: processing over $18.6 billion across 66.1 million transactions in 2024 demonstrates operational mastery [Forbes Middle East, 2025].

Scenario	What happens	Catalyst
Regulatory Export	MadfooatCom licenses its eFAWATEERcom platform to another central bank in the MENA region.	A sovereign wealth fund or development bank funds a national digitization project.
Banking API Hub	The platform evolves from a consumer-facing bill pay portal to a wholesale API service for banks and fintechs.	A partnership with a regional card network or a large bank to white-label the payment connectivity layer.

Data Accuracy: YELLOW -- Growth scenarios are extrapolated from the company's established model and regional market dynamics; specific catalyst details are not publicly confirmed.

Sources

1. [Jordan ICT, 2017] MadfooatCom | Who's Who in Jordan's Information and Communications Technology | https://jordanict.com/2017/company-profile/madfooatcom
2. [Forbes Middle East, 2025] MadfooatCom - Forbes Lists | https://www.forbesmiddleeast.com/lists/the-middle-easts-50-most-funded-startups/madfooatcom/
3. [Crunchbase] MadfooatCom - Crunchbase Company Profile & Funding | https://www.crunchbase.com/organization/madfooat-com
4. [eFAWATEERcom] About eFAWATEERcom | Official Online Bill Payment Portal | https://efawateercom.jo/about-us
5. [LinkedIn, The Org] Nasser Saleh profile | https://www.linkedin.com/company/madfooatcom/?originalSubdomain=jo
6. [AmCham Jordan, 2020] MadfooatCom for ePayments Company | https://amcham.jo/?sptp_member=madfooatcom-for-epayments-company
7. [All Multidisciplinary Journal, 2023] Case Study: MadfooatCom - Revolutionizing Digital Payments in Jordan | https://www.allmultidisciplinaryjournal.com/article/5644/case-study-madfooatcom-revolutionizing-digital-payments-in-jordan
8. [VC4A] MadfoatCom | https://vc4a.com/ventures/madfoatcom/