MenaPay is a modern version of the traditional payment systems which is blockchain-based and fully backed up cryptocurrency to provide a secure and transparent payment channel that enabling transactions for every area of everyday life. It is often described as the “crypto made easier than cash”.
MenaPay Foundation encompasses various aspects including crypto exchangers, revenue and profit system, green mining reserves, cash-out commission and request system, purchase menacash, merchants and individual users. Menapay works by creating a new standard in the crypto industry for the level of participatory returns, beyond the regular incentives for users and investors. The main features of MenaPay include: P2P Transactions; P2M Peer to Merchant Payments; M2F Merchant to Foundation; and Green Mining. All this innovative features work together to give outstanding results seen in MenaPay platform.
Payment processing in traditional payment workflow which requires too many intermediaries (including issuing bank, payment gate, credit card association, payment processors and acquiring bank) is overcome in MenaPay because it connects customer with merchants directly for frictionless and trustworthy transactions. MenaPay linked customer to the merchant with the use of Menapay Token.
In Ico structure of MenaPay, it was stated from their official website that 400 Million MenaPay Tokens will be generated and 64% of the coins will belong to the community. The Token distribution include 5% for mining reserve, 10% for bounty and airdrop, 10% for founders and team, 11% for advisors and partnerships and 64% for public contributors. In the use of fund, 5% goes to legal system, 10% of the Token goes to business development, 15% for operation and administration, 30% for development and infrastructure and 40% goes to marketing.
It is widely known that traditional banking tools are not widely used in the Middle East and Africa region, due to the conservative practice of Islam and the poor banking system. MenaPay's non-bank, user-friendly mobile payment app and arabic language support provide easy and quick onboarding to let users safely enter the cryptocurrency world. The main features in this app are that it has user-friendly dashboard and application market for easy integration.
The dream of this project all began with first capital team building around February 2018, now there MenaCash transaction tests presently going on this August 2018 and hopefully this platform will be highly developed through installation of P2P lending payment system which is one of the advanced Al features by December 2019.
The team of MenaPay is working hard to develop the most commonly used cryptocurrency in the MENA region.
CONCLUSION
MenaPay is a modern version of the traditional payment systems which is blockchain-based and fully backed up cryptocurrency to provide a secure and transparent payment channel that enabling transactions for every area of everyday life. For details information about MenaPay, it is important to check their various links and channels indicated below:
Website: https://www.menapay.io/
Onepager: https://www.menapay.io/onepager.pdf
Join on Telegram: https://t.me/MenaPay
Follow on Twitter: https://twitter.com/menapayio
Follow on Facebook: https://www.facebook.com/menapayio
Follow on Medium: https://medium.com/menapay
Follow on Instagram: https://www.instagram.com/menapay/
Follow on YouTube: https://www.youtube.com/channel/UC56eU1zaQh2S8k7TB4S2RjA
NB: Most of the picture diagrams and table displayed in this write up are obtained from official site of MenaPay.
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