Madfoatcom

Madfoatcom is a financial technology company that offers electronic payment solutions, aiming to streamline transactions for consumers and businesses in Jordan and beyond. Madfoatcom, founded in 2011 in Amman, Jordan, specializes in electronic payment solutions. The company has consistently focused on enhancing its service offerings to improve transaction efficiency. Madfoatcom was formed by a group of individuals with a passion for digital finance.

It has completed a total of 1 deal, with its most recent activity being on September 3, 2024. MadfoatCom specializes in a suite of financial technology solutions designed to facilitate seamless electronic transactions for both consumers and businesses. Its core product offerings include the eFAWATEERcom system, an electronic bill presentment and payment service allowing real-time payments through various online and offline channels. The MadfoatCom Payment Gateway securely validates customers' credit card details during online transactions, ensuring a smooth payment experience.

Additionally, the company provides the MadfoatCom PSP (Trust), an electronic platform for agents to manage user identification, balances, and reports. The MadPay app enhances consumer convenience by enabling money transfers, deposits, withdrawals, and bill payments, while MadfoatCom Vouchers cater to the online shopping needs of users, offering vouchers for popular platforms like iTunes and PlayStation. These products primarily serve customers in Jordan, with extensions into markets such as Oman, Palestine, and Saudi Arabia. MadfoatCom generates its revenue through a structured approach to its financial services, primarily focusing on transaction fees associated with its various offerings.

Businesses partnering with MadfoatCom utilize the eFAWATEERcom system to facilitate bill payments for their customers, leading to transaction-based fees on each bill payment processed. The MadfoatCom Payment Gateway charges businesses for secure transaction validation, contributing to the overall revenue stream. The firm also benefits from partnerships with retailers and service providers who integrate their payment solutions into their platforms, allowing for a scalable revenue model. Customer transactions typically involve a direct-to-consumer approach, with individual users paying fees for transactions made through the MadPay app and the purchase of digital vouchers.

Each of these services is designed to promote ease of payment for end-users while generating revenue for the company through transaction fees and service charges. In September 2024, Ebtikar and Jordan Kuwait Bank acquired Madfoatcom, although the financial terms of the transaction were not disclosed. This acquisition enables Ebtikar to enhance its electronic payment sector. Moving forward, Madfoatcom aims to launch new products that enhance user experience and expand its service portfolio.

The company is also looking to penetrate new markets, specifically targeting regions such as Saudi Arabia and Oman for further expansion by mid-2025. The funding from the recent acquisition will be utilized to support these growth initiatives and enhance its technological capabilities.