MenaPay introduces a brand new business model for the local shops and enterprises which will provide additional income on top of their existing business. By joining MenaPay Reseller Network, these shops will be able to sell MenaCash (digital money of MenaPay) to their local community. MenaCash is the common currency of Middle East and is fully backed with US dollars. It is available to use in any place which money transaction is needed. E-commerce, restaurants, shopping malls, gas stations, vending machines are some of the examples for daily usage of Menapay Platform.
Approved resellers will be able to buy MenaCash from the foundation through credit cards or wire transfers, decide the commission rate over their sales and make rate updates on a customer base, track their sales records and produce reports over their sales with the Reseller Dashboard provided for them. The Reseller Dashboard is designed specially for the MenaCash sales. Entreprises who are entitled to be Resellers and who are listed on the Reseller App can easily conduct MenaCash sales.
We believe it is crucial for users to reach MenaCash through regular cash as easily as possible to transfer money into the digital medium and start the digital transformation in this mainly cash using region. Internet cafes, exchange desks, jewelers, markets can make reseller application. Accepted enterprises will be able to increase their revenue up to 30% as income channel to their existing business and expand their customer portfolio.
said Tolga Odoğlu, Managing Director of Menapay.
In the Middle East, more than 80% people are not using digital payment methods. Menapay offers these people a transparent payment method in accordance with Islamic finance. Thanks to security and transparency of MenaChain on blockchain, it is possible to make peer to peer transaction without any banks and credit cards.
MenaPay brings a new revolutionary business model to MENA region by facilitating the financial problems of the world. This will be a brand new income channel for offline stores on top of resellers existing businesses. It is also crucial for users to reach MenaCash through regular cash as easily as possible to transfer money into the digital medium and start the digital transformation in this mainly cash using region.
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 crypto currency sector that goes far beyond the regular level of incentives available for users and investors