MenaPay is the first, fully backed blockchain-based payment gateway in the Middle East and Africa.
MenaPay replaces traditional payment methods with a blockchain-based, fully backed cryptocurrency to provide a secure and transparent payment gateway enabling transactions for every aspect of daily life.
This provides a secure and transparent payment gateway to enable transactions for every aspect of daily life. Developers will create a convenient mobile payment application MenaPay, with support for Arabic. MenaPay will distribute 75% of total revenue and profit amongst holders of MenaPay. This undoubtedly evokes interest in this project.
MenaPay started in November 2017 to serve 420 million, across 18 countries as their primary payment method.
Regular banking tools are largely not used in the Middle East and Africa region and the region has a very fragmented structure with multiple currencies.and it will provide numerous solutions for MENA region:
The unbanked-population: There is 86% of the population who don’t use banks in MENA due their religious beliefs.
Cryptocurrencies cannot be used in daily life transactions because of entrepreneurs.
their price fluctuations and cash-out concerns. MenaCash, which is 100% backed by USDs, will be used as the currency for transactions under the MenaPay platform.
1 MenaCash will always be equal to 1 USD and merchants will be able to make cash-outs from the MenaPay foundation. MenaPay also brings easy-to-use solutions such as desktop and mobile wallets, integration APIs and SDKs, reporting and a management !dashboard for merchants, all with Arabic user interfaces.
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Regular banking tools are largely not used in the Middle East and Africa region and the region has a very fragmented structure with multiple currencies.and it will provide numerous solutions for MENA region.:
The unbanked-population: There is 86% of the population who don’t use banks in MENA due their religious beliefs..
Islamic Compliant: So many individuals don’t use banks due to the practice of Islam, however MenaPay is providing a fully Islamic system, as blockchain itself comply to the Islamic practices due to the absent of intermediaries in transactions.
Single Currency: MenaPay will cover all the region..
Cross-Borders: So many countries in MENA region don’t have the right to make transactions overseas due to the countries different regulations, MenaPay will provide cross-borders money transactions.
100% USD backed: Free from exchange rate risk and cash collection..
Blockchain-based: It provides security and transparency..
Blockchain technology is a very breakthrough and innovative technology. Cryptocurrency and blockchain technology has reached great popularity all over the world in 2017. Today, many new different startups are launched on blockchain technology. One of them is a new interesting project MenaPay.
The blockchain technology is improving day by day and MenaPay will shape the financial system in MENA and the rest of the world.
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