MPAY: Everything You Want to Know About the MenaPay Product
Everything You Want to Know About the MenaPayÂ Product
MenaPay is the first Blockchain based, non-banked mobile payment solution for resellers, merchants and consumers. It replaces cash and traditional banking tools with a transparent Islamic Finance Compliant structure and solves the monetization problem of both online and offline resellers. The application also brings solutions for P2P and cross border transactions.
The development of this product took about 9 months starting with a roadmap. The product team worked very hard analyzing the market, the targeted audience in the region as well as the consumer behavior of digital applications. Many financial and blockchain-based applications were examined. The feedbacks were later on shared with the technical team and use cases were outlined. Use cases present explicit benefits to the analysis phase. One significant benefit of use case driven analysis is that it helps manage convolution since it focuses on one specific usage aspect at a time. It also provides a basic groundwork for the requirements document, user manual, and test cases as well as encouraging designers to envision outcomes before attempting to specify outcomes, and therefore they help to make requirements more proactive in system development.
Once the user flow was created after the use cases, the development team started coding. Whereas on the front-end side, the designs were structured following the use cases and the design team has used sketches before it was approved for the next step. The focus was on the positioning of each item and the ease of use. Each approved sketch was then sent to UI where it was shaped and coloring was used. The front-end developers then worked on the coding by looking at the end design.
What is the difference of MenaPay compared to other digital wallets?
- MenaPay is a digital wallet payment application backed by the MenaChain platform and designed to be the digital wallet for the users.
- The blockchain technology provides a secure and transparent payment gateway to enable transactions for every aspect of daily life and thus is Islamic compliant.
- Users of MenaPay can easily and quickly create their own unique wallet by just downloading the application, creating an account, finishing the profile verification process and start shopping online and offline as well as making payments and transfers.
- MenaPay wallet app is designed as both a mobile wallet and a desktop wallet.
- MenaPay application is in native Arabic for the MENA region where most of the applications do not provide the Arabic language option.
- The user interface is designed to be simple, creative and purposeful.
- The onboarding is extremely fast.
- There is no waiting time for transactions including cross-border transactions.
Benefits of the application:
The MenaPay mobile application enables Peer to Peer and Peer to Merchant transactions by using a simple QR code and barcode, which allows all online and offline merchants to accept digital payments from MenaPay. Compared to most payment applications, it is more secure due to its blockchain technology. The users can also create up to 7 different wallets helping them to manage and track their payments as well as their spendings. The merchants can access their data from their dashboard to track and analyze their sales. Moreover, the application provides a location search which shows all re-sellers and merchants close by. The profile verification process is done online and there is no need for further documentation or visiting MenaPay offices.
How does the development team of MenaPay work?
The development team has a technical leader who distributes the tasks within the team and works closely and reviews their work. It is very important for the team to work on a regular schedule by producing quality software every 10 working days. The last three days are saved for QA and demo for further feedbacks. The development team uses different tools such as JIRA, Bitbucket, and Lucidchart. The fundamental principle for prioritizing projects for the team is to choose the riskier issues and those that are found to be more important by the marketing team.
Moreover, one of the most important achievements of the team was the completion time. The team has achieved the power of Stellar. Meaning that it takes about 5â€“7 seconds per transaction. When you compare it with VISA or MasterCard, these huge payment corporations achieve around 15 seconds of transaction time.
In conclusion, MenaPay will bring a revolutionary business model specifically to the MENA region and influence the cash used to be minimized in the mid-term and create new income methods for both the offline and online stores.
Original article was created by: MPAY at medium.comDisclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency or ICO.
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