MenaPay

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Introduction MenaPay

MenaPay is a blockchain-powered payment solution and gateway that is targeted at nations in Africa and the Middle East. It has created a unique payment solution that can integrate with existing platforms to offer a crypto payment option. The goal is to have MenaPay serve more than 420 million people in 18 nations in African and the Middle East.

MenaPay is a user-friendly app that will offer support for Arabic, one of the most spoken languages on earth. The platform will initiate a new standard in the crypto world on ROI beyond the usual incentives that investors know.

MenaPay Problem

The main problem is in the traditional payment system which requires too many intermediaries. The customers and merchants must go through the bank process in the traditional method of payment where sometimes charging fee is higher and it takes a lot of time to complete the payment process. As per the, Middle East and Africa region, they are not using regular banking tools because of having poor banking system and they have also break into the multiple currencies. Other problem is where cryptocurrencies cannot be used in daily life transactions because of their price fluctuations.

MenaPay Solution

MenaPay will connect customers directly to the merchants with the aid of the blockchain. Merchants will be able to integrate MenaPay and payment gateway on their platform. Most merchants will not accept crypto as payment on their platform due to cash-out issues and price fluctuations. As a result, the developers came up with MenaCash. This coin is backed 100% by the US dollar. It is going to be used as currency for transactions on the MenaPay platform. On this platform, each MenaCash coin is worth one dollar.

To eliminate the issues of volatility, MenaCash is powered by a private blockchain. This will ensure that transactions are faster than the existing payment gateways like debit and credit cards. The platform will initially accept payments in 30 major fiat currencies. Users will also be able to purchase tokens by making bank transfers, pay on the door, or credit cards.

MenaPay Blockchain Cryptocurrency Payments Gateway Features

P2P Transactions

Users will be able to use MenaPay to transfer funds and crypto assets among themselves.

P2M Transactions

Merchants globally can integrate MenaPay as their payment gateway using SDK and APIS offered by the MenaPay team.

M2F Transactions

Merchants will be able to withdraw crypto assets.

The Current Payment System

The existing payment gateway is outdated. It is complicated and can be time-consuming in some cases. Besides that, it might require high fees before the user payment reaches the merchant.

Innovative Crypto System Solution

The stable cryptocurrency “MenaCash” will work via a private blockchain solution to eliminate volatility and to assure transactions faster than old-fashioned financial instruments, such as credit and debit cards.
The tradeable MenaPay token will utilize ERC20 and will be used to distribute the majority of the revenue and profit of the MenaPay platform and will be available for crowd sale.
Generating revenue from the fees from P2P (peer to peer) and P2M (peer to merchant) transactions and cash-out fees from M2F (Merchant to Foundation).
Green Mining: Every MenaCash transaction between Peer to Merchant may be awarded by a MenaPay token.
MenaPay tokens will be distributed from mining reserve. A certain ratio of the transaction fees will be used to fill the mining reserve with MenaPay tokens.

Token ICO Details

The platform will distribute 75% of all revenue from transaction fee to holders of the MenaPay tokens.

Token Ticker: Mpay

Total Supply: 400,000,000 Mpay

Token Type: ERC-20

Tokens for Sale: 256,000,000 Mpay

ICO Token Price: 1Mpay = $0,165

Soft Cap: $5M

Hard Cap: $25M

All unsold tokens will be burned

ROADMAP

Sep ‘18

Grand Launch of the Desktop and Mobile Payment App

Nov ‘18

Public Token Sale (ICO)

Jan ‘19

50 Premium Merchants Onboarded

Apr ‘19

Face Recognition for Secure Transactions

May ‘19

Reaching 5 Million MenaPay Users

Jun ‘19

Reaching 1B USD Market Cap

Dec ‘19

AI Powered P2P Lending

FOUNDERS & ADVISORS & TEAM

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.