Peer-to-Merchant transactions are made by customers to merchants.

During this process, a unique transaction code is produced for every purchase from the merchant. Within this code, there exists information on the purchased product or service and the cost. This code is reflected as a QR code on the merchants’ screen. The QR code is scanned by the customer’s app and the payment is realized after system approval.

3. M2F (Merchant-to-Foundation) Transactions

Merchant-to-Foundation transactions are for MenaCash to fiat currency cash out from the merchant to the foundation.

MenaCash is easily converted to fiat currency for approved merchants.

As merchants can use the collected MenaCash for their own purchase purposes, they can also join the Approved Merchant Network and cash out from MenaPay Foundation. Cash out requests opened by approved merchants are closed by the foundation on returning the fund, keeping 1 MenaCash = 1 USD equality. The minimum limit for cash out is 1,000 MenaCash. MenaPay Foundation claims 5% commission over the amount cashed out. The rights to change the commission rates are reserved by the MenaPay Foundation.