Madfoatcom Ranks Fourth On Middle East's Fintech 50 List

(MENAFN- Jordan Times) AMMAN - MadfoatCom for ePayments Company has ranked fourth among the top 50 financial technology companies in the Middle East, according to Forbes Middle East ranking for 2024.

According to a statement by the company on Monday, this position reflects the global digital transformation and the evolution of financial services towards e-payments and money transfers with ease, as Forbes Middle East relied on accurate evaluation criteria to highlight innovative companies in this field, the Jordan News Agency, Petra, reported.

The founder and chairman of MadfoatCom, Nasser Saleh, expressed pride in the company's achievements in the field of financial technology. He also reiterated the firm's commitment to innovation and continuous growth to meet the evolving needs of customers in this advanced digital age.

MadfoatCom provides online, real-time bill presentation and payment services, according to Forbes Middle East.

In 2014, it won the exclusive tender of the Central Bank of Jordan to build, operate and administrate the electronic bill presentment and payment service, eFAWATEERcom, which is connected to all banks in Jordan, mobile wallets, post offices, and payment service providers, the website added.

Today, it operates in Jordan, Oman, Palestine, Saudi Arabia, the UAE, and Morocco, with plans to expand into Iraq in 2024.

With 538 billers and more than 4 million active users, MadfoatCom processed 52.6 million transactions worth $16.3 billion in 2023. Its app had been downloaded more than two million times as of December 2023, according to the Forbes website.


Jordan Times

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