What is PumaPay?
Retailers and services providers are met with daily problems concerning inefficient, and not to mention EXPENSIVE payment methods. Also, since no payment method can resolve payment processing, PumaPay created a protocol that will overcome all these issues.
PumaPay is an extensive billing protocol. It combines credit cards with blockchain-based solutions, thus enabling the frequent use of cryptocurrencies both online and offline. PumaPay is free and has opened a whole new door to payment methods that were unattainable up until now.
PumaPay’s mission is to simplify online billing. Credit card systems need to be replaced by a protocol that’s designed specifically for the needs of global, technology-driven economy. This billing process will not only modernize payment processing systems but also drastically improve them.
It will only take a few seconds to process PumaPay transactions. Actually, the fast feline was the main inspiration behind the company’s name. Hense the company name, PumaPay. Compared to the ten minutes it takes for a Bitcoin transaction to complete, that's quite an accomplishment!
Although the name is quite a tongue-twister, the payment protocol will help optimize payment processing solutions that are more suitable to our present-day needs. In short, PumaPay PullPayment aims to beat current payment difficulties and offer us tools for both customer and onboarding courses.
So, what exactly is the main problem with cryptocurrencies? They were designed to only allow payments from side A to side B, and that form of payment is known as a “push payment.”
Accordingly, “pull payment” will allow side B to pull funds from side A, depending on prior acceptance.
It’s pretty easy to see what the benefits of the PumaPay solution are. This new system will make everyday transactions a breeze. Here are some other advantages worth mentioning:
You won’t have to worry about your privacy since PumaPay maintains a relationship built on trust between the customer and the company.
PumaPay will remove 3%-15% commission per transaction.
Even though refunds aren’t possible and transactions are final, the company expects plugin solutions that will enable automatic refunds. That means that funds will be returned to the consumer without any difficulty.
PumaPay will enable payment practices which have been impossible on the blockchain. These payment practices include:
PumaPay is currently in the stage of active development. The company has working prototypes, and their team of experts is testing the “Recurring Payments Smart Contract” and adding the finishing touches.
PMA Tokens will be used for payments. They will have an all-in-one billing mechanism, which will make PumaPay stand out from other cryptocurrencies.
The ultimate goal of PumaPay is to get rid of the everyday problems merchants have, by allowing them to process cryptocurrencies. That will also minimize their dependency on inept payment methods (for example, credit cards).
PumaPay is an ideal billing protocol. It combines traditional payment methods with advanced blockchain technology. Ultimately, it's here to simplify the use of cryptocurrencies in online and offline outlets.
The protocol will be invaluable for payment transactions through cryptocurrencies and will eliminate the middlemen. In turn, merchants will save money they would usually spend on excessive fees.
PumaPay would like to attract as many users as possible. The company currently has over 30 Early Adopters, and their goal is to hit 300. Their Early Adopters include brands from different industries, such as the fashion industry, adult entertainment industry, and others. The company also has launch partners in addition to the Early Adopters.
Ultimately, PumaPay will simplify online billing, and that alone is an impressive feat!