The PumaPay Pull Payment Protocol
PumaPay is a free, open-source, blockchain based payment protocol featuring the unique architecture of PullPayment: Smart contracts that invert the mechanics of common cryptocurrency operations. Cryptocurrencies were designed to allow only one type of transaction – sending money from side A to side B, also known as ‘push.’ Our PullPayment Protocol enables a ‘pull’ action on the blockchain, allowing side B to connect to side A’s address via a PullContract and ‘pull’ funds into side B account. This is, of course, subject to predefined terms and prior acceptance of the transaction by side A.
PumaPay’s Protocol was designed from the ground up to facilitate flexibility in transaction mechanics. The innovative architecture opens the door to a whole universe of payments mechanisms that are either impossible or unfeasible when relying only on a ‘push’ action: Subscription fees, direct debit, pay-per-use, and more. The protocol is highly flexible and adaptable, giving businesses the opportunity to apply their processing business logic on the blockchain.