Blockchain is believed by many as a major technological breakthrough in most recent times. The application of blockchain in solving payment related problems comes with numerous advantages.
Blockchain offers many advantages over traditional payment system; this is gradually unfolding in some parts of the world.
However, research has shown that about 40 million people are still un-banked and lacks a convenient payment system in the MENA(Middle East, North Africa) region of the world; thus, prompting a group of scholars and professionals in proffering solution, which is why the MenaPay project is being developed.
'MenaPay is the first blockchain based non-bank digital payment gateway for building the biggest cashless society in the world. It focuses on the MENA region primarily.'
MenaPay project is backed by its own cryptocurrency which is intended to serve as the most used cryptocurrency in the Mena region covering about 441 million people.
It is believed that financial instruments such as Automated Teller Machine (ATM), Point Of Sale(POS), Credit card, Debit card, etc adopted by traditional payment systems suffer from setbacks ranging from poor network, poor security, slow and inconvenient transactions, thus paving ways for fraud and loss of money.
But,
The good news is that MenaPay project is leveraging on blockchain, which until now, is the only way to solve the problems associated with banks, other financial institutions as well as payment systems.
Blockchain eliminates the use of human third parties from the line of payment thus overcoming the issue of fraud. It offers a transparent, reliable, fast, trusted transaction within and across international borders at a very low fee.
Interestingly too,
MenaPay is designed to comply with Islamic financial rules.
The business model of MenaPay revolves around its products which are deemed innovative and revolutionary. Some of which includes, the Reseller Application, Mena mobile and desktop payment App(wallet), etc.
MenaPay project is designed for peer to peer(P2P) transactions, peer to merchant (P2M) transaction and peer to Foundation (P2F) transaction.
MenaPay stand to enjoy a first mover advantage in the Mena region since they are building an entirely new thing from the scratch, they will be entering a virgin market thus their competitive advantage will be very strong.
The project is targeted at the teeming population of the Mena region especially the un-banked.
It is believed that the product features of MenaPay are innovative and revolutionary, and as such will rightly apply in solving the existing problems and addressing its business concept.
Also, the project is compliant with Islamic financial rules. These poses high chances of acceptability by the people of Mena region.
Since the idea of MenaPay project was conceived, several milestones have been achieved, alongside some strategic partnership with reputable businesses being put in place.
Considering the project development stage and roadmap, one would likely say the project team is doing great and feasibly adhering to plans.
The project social presence is yet another interesting thing that may serve as a green light to most investors.
MenaPay operates social handle such as Telegram, Twitter, Facebook, YouTube etc.
The Telegram handle which serve as a direct link for discussion between investors and project team has got about 21.8k members, Facebook handle has got about 6.7k likes While the Twitter handle has got about 12.9k followers.
The project team is also an interesting factor in MenaPay project. The board members, advisors, and team members are professionals with the relevant expertise, drawn from divers field; all working to ensure success of the project.
MenaPay project is offering initial coin offering to interesting investors, funds will be collected through the MenaPay Foundation for the development of the project.
Token pre-sale is slated for January, 2019 while Token public sale is slated for February, 2019.
Join the Telegram handle below for more information.
In conclusion, MenaPay project has attracted a good number of interested investors as seen from their social presence.
The project, alongside the product features have been hyped and believed to be innovative enough to solving payment problems in the MENA region.
The project has also attracted professionals across the Finctech, cryptocurrency, blockchain industry and rated very high by ICO dedicated website.
Disclaimer:
This piece is intended for promotion, participation is at investors desecration.
Find more information using the links below:
Source/official links
Website: https://www.menapay.io/
Facebook: https://www.facebook.com/menapayio
Telegram: https://t.me/MenaPay
Twitter: https://twitter.com/menapayio
YouTube: https://www.youtube.com/channel/UC56eU1zaQh2S8k7TB4S2RjA
Authored by Torps1: https://bitcointalk.org/index.php?action=profile;u=1291920