What are the exciting products of MenaPay?
The MenaPay products can be separated into the following categories: MenaPay Wallet, Merchant Dashboard, Reseller App and MenaChain.
Menapay Wallet
Menapay Wallet is a payment application backed by the MenaChain platform. The MenaPay application is designed to be the digital wallet for the application users. Every user can create their own unique wallet by just downloading the application, creating an account, finishing the profile verification process and start making payments. By using the wallets, the users can; buy MenaCash from Resellers or the MenaPay Foundation, send/receive MenaCash to/from another user at any time, see the Reseller network on the map to choose where to buy MenaCash from, shop using the QR code, phone number, barcode or the wallet ID the merchant has provided.
MenaPay Wallet app is designed as both a mobile wallet and a desktop wallet which is developed as native IOS ,Android, and desktop application. The Mobile Wallet will be available through the App Store and Google Play store and the desktop wallet will be available at menapay.io. The Mobile apps are developed with Swift for IOS version 10 and above, and with Java for Android API level 19 and above covering 96% of devices in the market. The Desktop Wallet is developed with Electron and the Electron Menapay Wallet can run on any system, Windows, IOS and Linux.
Merchant Dashboard
The MenaPay Merchant dashboard is developed for Merchants who will be accepting MenaCash as a payment method in their business transactions. Merchants using MenaPay Dashboard will be able to generate reports on their transactions and payments, set commission rates, reach payment transaction and payment history, refund their customers etc.
The platform is developed as a web application and is open to the all merchants who prefer MenaPay as a payment platform. The Web application is developed with React and Java Spring Boot. Rest API will be provided to the merchants who are willing to integrate MenaCash to their sites. The API & related documents will be available to merchants through Merchant Dashboard.
Reseller App
In order to provide an easy MenaCash purchasing experience to its users, MenaPay Foundation authorizes some enterprises other than itself, which can sell MenaCash. These enterprises are called “Resellers” in the system. The Reseller Application is designed specially for the MenaCash sales. Enterprises who are entitled to be Resellers and who are listed on the Reseller App can easily conduct MenaCash sales.
The Reseller Application is also available for IOS, Android and as a Desktop app. They are developed with the same technologies with MenaPay wallet. A web application will also be available for resellers similar to Merchant Dashboard.
MenaChain
MenaCash; is a stable cryptocurrency of the MenaPay platform which will be used for daily transactions between 3 dynamics in the system; users, merchants and foundation. Transactions between users P2P (peer to peer), transactions between users and merchants P2M (peer to merchant) and transactions between approved merchants and MenaPay Foundation for conversion of their MenaCash to fiat currency purposes M2F (merchant to foundation) will be possible by using MenaCash. MenaCash will be generated on the MenaChain blockchain to assure secure and fast transactions between the users.
MenaChain is developed on Stellar platform as a permissioned blockchain. Since one of our target user base is merchants, traders & e-commerce platforms and they do not want their transactions to be accessible by everyone, we prefer to use as a permissioned blockchain. The nodes will be accessible to the corporate entities designated by MenaPay foundation. Stellar is preferred since it offers easy development environment and developed as a payment system using Stellar’s own JavaSDK, Android SDK and IOS SDKs. Also the settlement time is fast, 2–5 seconds.
The development team consists of 17 people, 11 in-house, 6 as contractors, including BackEnd & Frontend Developers, IOS & Android developers supported by, project managers, and software architect. The development cycle of the team is two weeks. Every two weeks, the teams test and releases a prototype of the product that they are working on.
The products of MenaPay are designed for customers to transform their cash payment methods into digital wallet system where their money will be secured, help to track their transactions and be in more control of their finances, offer low fees for cross border transactions between the MenaPay users and most importantly for the MENA region; it is designed to comply with the Islamic finance requirements as the platform does not use or give interest.
