MadfoatCom has attracted new strategic investors, including Basata Holding from Egypt, enhancing its ownership structure. The company operates the eFAWATEERcom system, which streamlines electronic payments for citizens in Jordan. The investment signifies an opportunity for growth in digital payment services in the region, supported by prominent asset management firms.
MadfoatCom, a Jordanian electronic payments company, announced on February 9, 2025, that it has successfully onboarded strategic investors during a meeting at the Central Bank of Jordan. New investors include Basata Holding from Egypt (25% stake), the Social Security Investment Fund (7%), as well as several banks such as Arab Bank and Jordan Kuwait Bank. Combined with existing shareholders, banks now hold over 50% ownership in the company.
Since its establishment in 2011, MadfoatCom has managed the eFAWATEERcom system, facilitating secure connections between banks and billing entities. Launched in 2014, this system allows users to view bills from multiple service providers and make payments electronically through ATMs and mobile apps. The aim is to simplify the billing process for citizens in Jordan.
Basata Holding, a leading electronic payment service provider in Egypt, contributes a wealth of digital payment solutions including bill payments and mobile wallet services. This new investment is expected to enhance collaboration between Jordanian and Egyptian markets while helping MadfoatCom expand its operations both locally and internationally.
The company is focused on capitalizing on the growing demand for digital payments, aligning with its strategic vision that emphasizes expanding e-payment services across existing and new markets. This onboarding was supported by Anniston Capital, Imara Asset Management, and Al Tamimi & Co. Law Firm, among others, alongside MadfoatCom’s dedicated internal team.
MadfoatCom operates in the rapidly growing electronic payment sector, an area increasingly essential in modern economies. With advancements in technology and growing customer preferences for digital transactions, the company has positioned itself to capitalize on these trends. By onboarding new shareholders, it enhances its financial capability to explore growth opportunities and improve collaboration with regional counterparts, specifically in Egypt. The investment aligns with broader objectives in digital transformation, which is pivotal for financial services globally.
The onboarding of new shareholders marks a significant step for MadfoatCom, enhancing its strategic partnerships and financial stability. With international collaboration through investments like Basata Holding, the company is well-prepared to expand its services. As the demand for digital payments rises, MadfoatCom’s innovative system will likely play a key role in transforming how transactions are conducted in Jordan and beyond.
Original Source: jordantimes.com
