Madfoo3atCom for e-Payments Company Wins Central Bank of Jordan Tender to Build, Operate and Administrate Electronic Billing System in Jordan
Madfoo3atCom for e-Payments Company (Madfoo3atCom) an Oasis500 company announced winning the Central Bank of Jordan’s (CBJ) tender to build, operate and administrate the Electronic Bill Presentment and Payment Service gateway (EBPPS) in Jordan, positioning it as the official operator of CBJ’s e-Billing service in the Kingdom. This step will enable Jordanians to inquire about and settle their private sector and government bills online through the eFAWATEERcom service which is scheduled to be launched by CBJ in the near future.
eFAWATEERcom aims to provide Jordanians with a convenient, time-saving and flexible method to review and settle their bills via ATM machines, mobile banking, Internet banking, bank branches and other e-Payment methods under a unified system. The service will allow beneficiaries to cover electricity, phone, water, education, healthcare, travel and tourism, e-Commerce and insurance bills, in addition to government fines, property taxes, taxations and other fees, subsequently ensuring fast, low-cost transactions for all involved parties.
“This service will offer Jordanians optimum flexibility and security while paying their bills via electronic channels such as mobile phones and laptops. It will also enable them to avoid any unnecessary service shut-offs which may occur due to delayed transactions, as well as the immediate activation of an inactive service. eFAWATEERcom will also positively impact the national economy as a whole as a result of faster cash-flow, higher effectiveness, and time-efficiency,” commented Eng. Nasser Saleh, CEO and Founder of Madfoo3atCom.
Nasser Saleh, CEO and founder of Madfoo3atCom, stressed that “the service will offer Jordanians optimum flexibility and security while inquiring and paying their bills via electronic channels such as internet banking, ATMs, mobile phones and will cover electricity, phone, water, education, healthcare, travel and tourism, e-Commerce and insurance bills, in addition to government fines, property taxes and other fees, subsequently ensuring “fast, low-cost transactions” for all involved parties”.
Madfoo3atcom was a seed investment selected by Oasis500, the leading startups accelerator in the MENA region, and generated follow-up funding from Jordanian and Saudi Arabia investors totaling 1 million dollars.
Congratulating Madfoo3atcom on the deal, Mr. Yousef Hamidaddin, Oasis500 CEO said: “It is great to celebrate success, and to see investments made by oasis500 deliver such break through results” Dr. Usama Fayyad, Chairman of the Board of Oasis500 added: “This win, and award made by the Central Bank is a clear validation that strong ideas with the right support can have such great wins”.
In her turn, Ms. Maha Al-Bahou, Executive Manager Payment systems and banking operations department Central bank of Jordan, commented: “The Central Bank of Jordan along with the National Payments Council selected Madfoo3atCom to build and operate the national bill presentment and payment service “eFawateerCom” which is considered one of the most important strategic projects initiated in this domain.
Our requirements were extremely high in terms of technical and security specifications to ensure safety and efficiency, the features and specifications of the system are based on high standards and best practices. The system will be highly interoperable to link and integrate with other payment schemes; it supports all types of bills, governmental claims, commercial claims as well as ecommerce.
A distinguished feature of the system in addition to many uncounted features is its ability to do financial clearing of all transactions to position itself as “The Platform and Clearing House for Electronic Billing and e-commerce in Jordan”.
Al-Bahou also added:
“I’m proud to say that we highly qualified Jordanian companies in the ICT Sector like Madfoo3atCom who easily competed with regional and international companies and were qualified in all terms to win the tender from both technical and financial sides.
The go live date for the service according to the implementation plan is June 22nd, 2014, however, we expect to launch before that date due to the hard work and dedication we witnessed from the company’s team as well as our team.
We highly trust Madfoo3atcom to provide us with a state-of-the-art system and services which will facilitate the life of people and will contribute to enhancing the e-Payment services in the Kingdom.”