In an exciting development for the fintech landscape in the Middle East, Egyptian startup Basata has made headlines by increasing its investment in Jordan’s MadfoatCom to a notable 25%. This strategic move is poised to enhance digital financial inclusion across the region and fortify the digital payments infrastructure in Jordan, a country rapidly making waves in the tech arena.
Founded in 2009 from the merger of the innovative platforms Masary and Bee, Basata, previously known as Ebtikar, has emerged as a key player in the e-payment sphere. Its portfolio is diverse, covering everything from bill payments to mobile money solutions and supply chain innovations. With its mission to elevate financial accessibility, Basata is cementing its reputation as a frontrunner in the digital transformation of financial services in Egypt and beyond.
On the other side of this partnership, MadfoatCom, inaugurated in 2011 by visionary entrepreneur Nasser Saleh, revolutionizes the way Jordanian consumers handle their bills with its seamless, real-time online payment system. This integration of technology has placed MadfoatCom at the forefront of the digital payments revolution in Jordan, positioning it as a trusted ally for citizens seeking convenience in managing their finances.
Now, with Basata’s increased stake in MadfoatCom, this collaboration signifies a major leap towards integrating advanced financial technologies into the daily lives of Jordanians and other regional markets. Aladdin Saba, chairman of Basata, commented on this pivotal investment, stating, “Our strategic stake in MadfoatCom, in partnership with Jordan’s most respected financial institutions, represents a pivotal step in our regional growth strategy. This collaboration will enable us to expand our network, introduce cutting-edge financial solutions, and create a more inclusive digital economy in Jordan and beyond.”
As the region watches closely, many are optimistic about the future of digital finance in the Middle East. This partnership between Basata and MadfoatCom not only highlights the potential for growth but also underscores the commitment to fostering an inclusive financial environment. By enhancing digital payment solutions, they are paving the way for an economy where everyone can participate, thrive, and benefit from innovation.
For those keeping an eye on the ever-evolving fintech sector, this is definitely a partnership to watch. Keep visiting Africazine for more updates and insights on the unfolding story of digital finance in Africa and the Middle East.
#Egypt #Jordan #Fintech #DigitalPayments #WorldNews
