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.
The project started in November 2017 to serve 420 million people across 18 countries as their primary payment method and it will also distribute 75% of it's total revenue and profit among holder of manapay.
SOLUTION TO REAL LIFE PROBLEMS
Because of conservative practice of Islam and poor banking system in the Middle East and Africa which result results into people not using regular banking tools there.
In the light of this, the project bring a 100% Islamic, non-bank digital solution, using blockchain to create a single currency to be used in everyday and cross-border transactions.
SOLUTION FOR USING CRYPTOCURRENCY AS A PAYMENT METHOD
We know that cryptocurrencies cannot be used in daily life transactions because of of their price fluctuations and cash-out concerns and this is why we have Menacash which is 100% backed by USD, to be used as the currency for transactions under the Menapay platform. And 1 Menacash will always be equal to $1 and merchants will be able to make cash-out form the Menapay foundation.
@Menapayio
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