Madfoo3at.com: An E-Payment Service that Enables Consumers to Pay their Bills Online at their Own Comfort 24/7

Madfoo3at.com

Madfoo3atCom provides a centralized electronic bill presentation and payment (EBPP) services to the local market in the first stage and the MENA region at a later stage.

   

Mr. “Nasser Hussein Saleh”, CEO of “http://www.madfoo3at.com”, explained to us more in depth what his Jordanian (Amman)-based start-up Company is about, what they do and to whom they offer their services.

As per Mr. Saleh; Madfoo3at.com Company has been established in 2011 with partnership and support from Oasis500 which is the MENA region’s premier education and counselor driven seed investment program and which is funded by King Abdullah II Fund for development and with strategic shareholders from Jordan and GCC;

Madfoo3atCom provides a centralized electronic bill presentation and payment (EBPP) services to the local market in the first stage and the MENA region at a later stage; it connects banks with billers to facilitate on-line real-time secure bill inquiry and payment services through electronic banking channels 24/7.
e-Way 2 Pay

• No Queues
• No Time Wasting
• No cash handling
• Automated Notification
• Anytime, Anywhere
• 24/7 Online Debit Payment Services
• Effective & Efficient Customer Service

Our Vision “ To activate electronic Bills Payment and Presentment within Jordan and the MENA region” .

What Madfoo3atCom Offers:

Provides electronic bill presentation and payment (EBPP) services to the local market using secure payment channels
Utilizes banks’ electronic channels such as Internet Banking, Mobile Banking, ATM, IVR and Call Centers to provide EBPP services.
Increases customer satisfaction by enabling them to view and pay their bills anytime and anywhere.
Helps customers to save time, cost and reduce queues in branches.

Awards and Recognition:

• Selected in the top ten finalist startups in the region’s largest digital event: ArabNet Digital Summit 2012.
• The Best Use Of Technology in the MENA Region Based On Wamda Best Mena Startups of 2011.
• Won Queen Rania National Entrepreneurship Competitions Award Recognized for 2011 (fourth rank in Jordan).
• Selected for Bedaya.jo in its entrepreneurs support program in 2011.
• Selected, incubated and received seed fund investment from Oasis500.com in 2011.

Our Customers:

1. Banks:

Madfoo3atCom Platform will serve banks through utilizing their e-channels such as as Internet banking, ATM machines, mobile banking, IVR… providing the following:

• Single point of contact: The banks need to connect to Madfoo3atCom only once and it will be able to connect to all current and future billers.
• Time and cost saving: by eliminating the development and connection headaches to different systems with different requirements of each biller.
• Automated Bank Biller Reconciliation: No More Headache of manual operations.
• Payment Notification: We notify billers when payment is executed by the bank in order to provide better service to the customer.
• Improve Cash Flow: by eliminating losing checks, and reducing billing and payments processing expenses.
• Improve Customer Service: Customers become more engaged in banking services while they pay their bills from their bank accounts using their
• preferred e-channel on a real time basis.

2. Billers:

Madfoo3atCom Platform will serve billers by increasing payment collections, reducing Branch Queuing, and ensuring automatic quick funds transactions into the billers’ accounts using banking systems.

Main benefits:

• Single point of contact: The billers need to connect to Madfoo3atCom only once and it will be able to connect to all current and future banks.
• Cash flow acceleration and financing efficiency.
• Automated Bank Biller Reconciliation: No More Headache of the manual operations.
• Reduce billing cost: By removing paper, printing, mailing and manual processing; your operating costs can be reduced by 60 to 80%.
• Support & Reporting: We offer a range of reports to give you an overall view of the system and to allow more efficient utilization of resources, these include end of day/period reporting, per channel reporting, and error detection.
• Improve customer service: Immediate processing automation, 24/7 payment-processing, and payment flexibility creates a smoother customer relationship.
• Payment Notification: We notify billers’ customers (optional upon biller selection) when payment is due and when payment is paid in order to provide better service to the customer

(1 votes, average: 5.00 out of 5)

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