The First Blockchain-Based Payment Gateway for MeNa

Islams are smart people. They, On the MENA country, live in the Edge.

Isis, bombs, wars. Those things first come to our mind, when we hear the word, Mena. Of course, who will forget the war in Syria where many lives are taken by the Isis. The tears of the children and seniors are very heartbreaking.

Furthermore, Something that we do not know about the Islams, or let me say not all of us know the fact that Islamic banking is not good as most countries had. The products that the banks provided was not enough that was very risky. Although, there is some news that Islamic Banking had seen a development this past few year.

Finance is one most important sectors in every country. Traditional Finance systems, such as banking, debit and credit cards, ATM's, and cash transfers facing a lot of challenges and failures this day, That is why many countries pushing their own technology and many of them trying to adopt blockchain. When we say blockchain, It's fast, It's secured, It's Visible, that is why the world embracing it too hard.

Disclamer: This article is not a financial advice. I'm not a financial experts. This article is speculative and merely my own personal opinion based on my own research that I’ve done before writing it. Please have due diligence to do expanded research regarding any Start-up projects you want to participate, I have prepared some useful links that I used as reference on this article. I try to avoid all FOMO or FUD and remain unbiased. Always remember that what you do with your funds is your decision to make. DYOR and seek guidance from a professional financial expert that you've trusted.

Introducing Menapay.

Menapay, the modern version of traditional payment systems which is blockchain-based technology and the fully backed up cryptocurrency. From the word, MENA which determined the Middle East and North Africa where they are the first blockchain base payment gateway in the MENA, and PAY as it was looking forward to being the newest Payment gateway for the 420 million people in the MENA region.

Let us know Menapay in this one Article. So, let's dive in!

I remember Menapay told the story of Aysha and Amin. They are Co-workers, one afternoon, where they are on a break, Aysha remember that she forget to send the salary of her younger sister so she needs to send money, so she was in rush that time then Amir told the lady that she doesn't need to go to the bank or Remittance, instead he introduced Menapay to her and she send the money to her sister quickly and easy

That is why they created this Platform.

A lot of people are sceptical about traditional banks especially their cost of transactions and processes. The Middle East and African are mostly unbanked due to their religious belief on Riba (interest). Here comes a payment gateway that is 100% Islamic and digitalized for their user. From the beautiful Dubai UAE, the headquarters of Menapay located

Menapay developing the MenaCash. MenaCash, In summarise, will eliminate the price fluctuations so the users will make transactions without worrying on how much those transactions will cost. One more interesting here, based on what I read on their white paper, 1 MenaCash will always and remain 1$. Yes! If you know the Tether, you may say there are little similarities. The good thing here was MenaCash can also be used in transactions and of course for trade as well. Are you wondering how and Why will the menacash token be a stable at $1 after exchange listing? It is Because it's back to on fiat dollars, in the other words, The menacash token will be back on menapay reserve cash.

Menapay Tokens will be an ERC20 token based. Visibility and Immunity? No worries as it was stable Ethereum network, that is it was a stable system where it can easily build the trust of the users and merchant.

How does MenaPay make transactions?

1. P2P Transactions. This transaction will be done between users. The details of the receiver such as phone numbers, emails, public key or the QR codes will be requested from the sender.

2. P2M Transactions. This one will be the transactions between the customers to merchants. This is like how we buy bitcoins on remittances, where there was a unique code in every transaction from the merchant. The code consists of the information on purchases product or the service and cost, a fee as well. The QR code will be scanned by the user's app.

3. M2F Transactions. This is between the Merchant to the Foundation transactions. As a merchant, they can use their collected Menacash that was 1 MenaCash = 1$ as I said before and use it for their own purposes. Merchants allowed to join the Approved Merchant Network and can cash out from the MenaPay Foundation. There will be a minimum limit for the cash outs that was 1,000 Menacash. The MenaPay Foundation always claims a 5% commission on every cashouts that may have the right to change and reserved by MenaPay Foundation.

4. Green Mining. Green mining will be used to reward users who perform transactions on the menapay platform. The percentage of tokens allocated to menapay green mining is 5%.

The Advantages of Menapay.

• The 75% profit sharing will be paid to the MenaPay token holders.

• Fast secure and inexpensive payments across the borders.

• A Desktop and Mobile Wallets versions. This was launched last October 2018.

• 100% Islamic both languages and features for non-bank compliant.

• MenaCash USD tether

• The more unique feature? A Face Recognition! This is for the Secure Transactions. I think it's a better way for security. And on April 2019, will Menapay launch Face Recognition!

Maybe, it's not the right time to say that was all the benefits of this platform, since that it's on its own development, we can expect more to this.

Menapay we saw before, is based on the decentralized blockchain technology that will keep a safe and transparent transaction on its ecosystem.

MenaPay applications (both on the desktop and mobile applications) allows its user to withdraw their money with the MenaCash Cryptocurrency, the users can delete the Menacash Cryptocurrency through MenaPay.

So what are the difference between the Menapay and the Menacash?

MenaPay is the token which is used to share the revenue of the platform with the holders. Token generation event (ICO) will be on ethereum (ERC-20).

MenaCash is the stable cryptocurrency used on MenaPay platform for the purpose of daily transactions. MenaCash is generated on MenaPay's private blockchain, MenaChain.

The Core Team, Founders and Advisors.

Project's Roadmap

Authors Foreword

My mother is currently in Saudi Arabia. If it is possible to send a transaction on Saudi to the Philippines, then it will be a big help not just for me and my mother, but for all of OFW working there.

It will be a good start to Introduce Blockchain and Cryptocurrency to them since it's not that easy to tell your relatives about blockchain. Haha I know you can relate.

However, the revolution for the banking system in the MENA region is beginning there. Menapay finally the first blockchain based payment gateway is out to take in the place of the traditional payment system in the 18 countries across the MENA Region.

You Guys can visit Menapay's Website , Whitepaper, Telegram Chat and Ann Thread

' check my BTT Profile' and my POA.