Merchant
Merchant are known as the building blocks of the MenaPay ecosystem with individual users. This is the enterprises that would accept MenaCash payment in return for their products and services which is known as merchant in the MenaPay system.the 50 large establishments readily signed contract with the MenaPay foundation. The merchants who were registered in the platform and begins MenaCash acceptance can be used as an advantageous features of MenaPay. MenaPay brings a easy-to-register platform where the can execution of sales operations and keeping track on the relevant sales data. In the development of the largest cashless society in the world, MenaPay begins a easy-to-intergrate which called the Software Development Kit (SDK). Any merchant can accept the MenaCash payment after they download and setup the SDK.
Every merchant with the advantage of the MenaPay payment system. They can accept payments and spend the MenaCash they received as they want. These merchant who use the MenaPay alone as a payment intermediary and whom can not cash out their MenaCash are known as the standard merchant in quote. If not, it is needed to get an acceptance for the cash out privilege in terms of Anti Money laundry process if the acceptance process is successfully completed.
"Approved Merchants".
. Merchant Acceptance
All the merchant composed of the MenaPay platform would summit the following documents and get the "Approved Merchant" badge to enable them to cash out the MenaCash in their accounts.
. Certificate of registered address
. Certificate of incorporation
. Certificate of shareholders
. Utility bill of signing director
. Passport copy of the signing director(s)
When the application is received, MenaPay Foundation group assesses the applications. If the requirements are met, the sellers are approved into the MenaPay "Approved Merchant Network".
The Wallet ID Matching and Merchant
Every merchant and every user are able to register more than one wallet into their application. All wallets has a very different ID from the other and the are matched with users. Wallet being held by merchant are matched with identities as a firm although the are revealed to the customer during the the payment transaction. This ensure some kind of security to the customer by revealing the address he/she is transferring MenaCash to.
The MenaPay ID matching procedure is fashioned to transfer MenaCash, with high level security measures. All users information is matched with the user's with one of that kept on the off chain. In every transaction request which comes over the MenaGateway. Verification of these information are approved by the users. During MenaCash transfer, public key QR code encoding it receiving side's app produce. When the mailing side's app scans this QR code, it gets the public key which is eventually enough for completing the transaction. But to make sure that receivers real identity, sender additionally require supplementary identity information using receivers public key. This public key are being matched with the identity of the receiver on MenaPay server and hidden identity information is being returned to the sender side as identity hints.
LEARN MORE ON MENAPAY, Visit the links below.
WEBISTE : http://www.menapay.io/
WHITEPAPER : https://menapay.docsend.com/view/pwjr8rt
BITCOINTALK ANN. THREAD : https://bitcointalk.org/index.php?topic=4884588.0
TELEGRAM GROUP : https://t.me/MenaPay
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