While most people have known about cryptocurrencies for years at this point, the new payment method is still in its infancy. As a matter of fact, we still don’t know whether they will be widely accepted or not. For example, it took almost three decades for credit cards to reach fifty million users.
And although some countries like China are trying to steer away from cryptocurrencies, from the look of things, it seems like cryptocurrencies are here to stay. However, it seems like we won’t be able to use our cryptocurrency of choice to pay for coffee, meals, or groceries like we can with our credit cards.
Well, one company out there is on a mission to change this…
PumaPay is a Blockchain-based protocol that offers a robust, credible, and cheap payment mechanisms for its users. A vast majority of payment methods we have today – including the aforementioned credit cards, as well as virtual coins – PumaPay payment method was specifically designed to overcome certain hurdles. It offers a set of special tools created to facilitate onboarding processes for individuals and businesses alike.
The team behind PumaPay consists of seasoned transaction experts that are fully aware that credit cards and other payment systems were never completely adapted to the world of online trading. They have firsthand experience of problems online merchants come across on a daily basis. This experience has allowed them to create a payment process system far more effective than the ones we have today. Plus, they have successfully laid a foundation for a thriving cryptocurrency economy.
By using the PumaPay system, modern merchants can easily:
· Enable their users to pay for goods/services with cryptocurrencies directly. This will effectively replace the old billing processes.
· Provide the consumers with a flexible billing solution that will address al common billing practices like pay-per-use, recurring, so on and so forth.
· Eliminate the common risks associated with current billing methods and save users transaction fees, which usually range from 3% to staggering 15%.
· Improve the trust between merchants and customers with special privacy and security methods that will have both parties more satisfied than ever.
· Allow organizations to have access to emergency transcripts instantly, eliminating the additional layer of extensive banking.
· Provide the perfect billing solutions to both offline and online e-commerce outlets
In short, PumaPay enables secure payment methods over the Blockchain and decentralizes the billing layer. Moreover, PumaPay will increase the use of various cryptocurrencies online and offline, and help them become a standard means of payment. Last but not least, it allows powerful launch partners to make some noise and disrupt their particular industries by creating decentralized versions of their platforms.
The open-source payment protocol features the unique PullPayment architecture, which inverts the mechanics of regular cryptocurrency operations. You see, most cryptocurrencies are capable of only one transaction – sending the funds from point A to point B.
However, the PullPayment system allows users from side B to connect to the side A, and “pull” money into their accounts. And don’t worry, this “pull” is subject to prior acceptance of the transaction by the A side. Meaning, the B side can’t pull funds without permission.
What’s more, PumaPay was built on the backbone of the Ethereum network and uses the ERC 233 standard. This allows users to exchange their tokens without worrying about their coins being lost because of improper contract executions.
As we mentioned before, the PumaPay protocol is an open-source program, which will be open to the online community for development. The organization behind the PumaPay aims to create a standard platform for businesses all over the world.