MenaPay ICO (MPAY)

Crypto made easier than cash

"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. This provides a secure and transparent payment gateway to enable transactions for every aspect of daily life.

MenaPay will connect customers directly to the merchants with the aid of the blockchain. Merchants will be able to integrate MenaPay and payment gateway on their platform. Most merchants will not accept crypto as payment on their platform due to cash-out issues and price fluctuations. As a result, the developers came up with MenaCash. This coin is backed 100% by the US dollar. It is going to be used as currency for transactions on the MenaPay platform. On this platform, each MenaCash coin is worth one dollar."

(https://www.menapay.io)

MenaPay Score Analysis

MenaPay is constucting an Islam-compatible cryptocurrency - a relatively new niche with few competitors. However, these competitors were never explored by MenaPay. The team is well experienced, including the managing director, CTO, development team and CMO, as well as a large amount of relevant experts and advisors. Despite the github lacking much activity, the beta mobile app has been released to selected testers, and the merchant tools are scheduled to be launched in December 2018. Full functionality and AI capability is scheduled for release in December 2019. The CMO has done well with marketing efforts, which are recieving average responses from the crypto community. Some red flags identified include a lack of all partnerships being verifiable and a lack of smart contract available online.

MenaPay Use of Token

MenaCash is the default and only cryptocurrency of MenaChain. MenaCash is a stable coin backed by USD. All created MenaCash will be backed where 1MenaCash = 1 USD.