Middle East’s Interest-Free Payment Platform Developed in Turkey
MenaPay, the next generation payment platform based on the Blockchain, provides fast, reliable and financial services to Islamic financial institutions that are vulnerable to MENA region users who have difficulty accessing banking services.
Blockchain-based payment platform MenaPay, has developed in Turkey, will be launched in the whole region on January 15, 2019, as an innovative payment method in accordance with the Islamic finance principles of the MENA region, which has difficulty in accessing traditional banking services. Thanks to Blockchain technology, the MenaPay Payment Platform, which enables people to make secure and fast payment transactions in every aspect of their daily lives without a bank, works on a free application downloaded to smartphones and serves as a priority payment method to the users of the MENA region who cannot use the bank.
At the beginning of 2018, the Middle East’s successful business people to invest from seed taken from the road to the MenaPay in Turkey, including technical staff of 15 people in a year, reaching a 35-person team has completed the product development process. BADEER and Turkey Blockchain Summit as prestigious events in investors and faced with intense interest of the participants MenaPay Islamic finance accordance with the principles, blockchain-based, transparent, bringing the first payment solution that does not secure and should the bank.
The new common currency of 18 countries: MenaCash
The MenaPay Payment Platform, which opens the door to digital transformation in the payment area in the Middle East, can easily provide user trust and system transparency thanks to the controllability of blockchain technology. Money transfers and money inflows are controlled by independent auditing companies in the MenaPay Payment Platform. With MenaPash Payment Platform, which offers a transparent payment infrastructure with no more than 2 witness systems, MenaCash provides a secure and fast way to complete all transactions via blockchain technology.
MenaPay; e-commerce shopping, retail stores, and person-to-person transfer operations are needed in every aspect of daily life is provided without credit card use. The currency used on the platform MenaCash provides a common currency for the Middle East and North Africa regions, each comprising 18 different countries, each using a different currency. In this way, cross-border transfers in the region become much faster and easier.
Money transfer between two countries takes only 5 seconds
CPO of MenaPay Orhan Bayram said that ‘’MenaPay Payment Platform is designed to be used in the daily needs of the people and to provide a cultural adaptation specific to the region, as well as offering an integrated business system solution to its users. With MenaPay QR code payment system, all transactions take place in maximum 5 seconds with blockchain infrastructure. With an innovative approach, we will reduce the cash usage rates of the MENA region and build the world’s largest cashless society in the MENA region using blockchain technology.’’ emphasized the values brought by the platform.
The MenaPay Mobile App is available to all iOS and Android users on January 15th
The application contains 4 different products. With the MenaPay Mobile App, users can enter the world of crypto money in seconds, enjoy the fast and secure payment experience with the blockchain infrastructure and use MenaPay as the primary payment method in all aspects of their daily lives.
With the MenaPay Reseller Network, the digital transformation of cash will be realized. Aiming to be available in many areas of the MENA region, it agreed with more than 50 workplaces that will convert cash into MenaCash (Digital currency) in seconds. The workplaces that have been approved by the Ministry of Finance will be able to obtain MenaCash via credit card or Wire transfer from the MenaPay Foundation and sell MenaCash in their workplaces. MenaCash workplaces will receive a commission from the MenaPay Foundation and will have an additional income model and may create detailed reports on the insights of their customers.
Thanks to MenaPay Business Platform, workplaces and shops will be able to easily reach their customers’ needs and consumption behaviors and follow their own revenues and sales on a single panel.
Businesses places and vendors participating in the MenaPay Reseller Network can easily integrate with their MenaPay APIs to begin receiving payments, can easily complete their registration process and Profile Verification via both mobile and computer. Another feature of the application, The MenaPay Development support team helps the vendors integrate through live support on the board.
About MenaPay; MenaPay is the first payment system based on blockchain technology in the Middle East and Africa. MenaPay offers payments through a network of cryptographed blockchains, instead of traditional payment methods. This is how it provides a secure and transparent payment network for all kinds of users and for every aspect of daily life.
Launched in November 2017 the MenaPay project aims to provide advanced payment services to the 420 million people living in the 18 countries across the region. MenaPay will distribute 75% of its total revenue to MenaPay Token owners. This sets a new standard for the cryptocurrency sector that goes far beyond the regular level of incentives available for users and investors.
For additional information contact;
Name: Ece Şimşekalp
Tel: 0535 983 40 37
E-mail: [email protected]