Use cryptocurrency for payments Anywhere in The World – PumaPay

INTRODUCTION

Payment is an integral part of our life. Without that, you can't buy any product or pay for services that is essential for your living. With the advent of technology, the payment system has also gone through a lot of changes from cash to wallets.
What is the future of payment system? That’s an interesting question. Cryptocurrency or Digital currency has slowly started to capture the payment system. Why there is so much craze towards bitcoin or other cryptocurrencies? How is it beneficial than the existing payment system?

● Cryptocurrency is based on the decentralized blockchain technology and smart contracts which can reinvent the everyday payments by means of ‘Pull payments’.

● It reduces the number of intermediaries in a transaction and allows for P2P (Peer-to-Peer) transaction between the merchant and buyer.

● Living anywhere in the world, you can use the same cryptocurrency wallet everywhere. So, cryptocurrency is the best option for making cross-border or international payments with fewer transaction fees. Money transfer services like PayPal, Skrill etc are tied to one country. If you relocate to another country, then you need to create a new account.

The biggest challenge in the existing system is that you cannot use any payment for buying anything anywhere. For example, you cannot use an Amazon wallet to buy items from eBay. If you relocate to another country, you need to open a new PayPal account in that country. So, what we need a system that can be used for making any type of payment anywhere. To achieve this goal, PumaPay, a free billing protocol that will use cryptocurrencies for payments is under development. As Cryptocurrencies are independent of the location, it is an ideal option for making payments.

PumaPay being well-aware of the cracks that occur between digital and online billing requirements and prevailing blockchain solutions is extremely important. Credit card transactions and processing systems are deliberately becoming outmoded and it’s essential to be substitute it by a procedure which is envisioned around the requirements of a fast-paced, international, and technology-based economy. The mission is to revolutionize the existing payment dispensation systems by generating a flourishing cryptocurrency economy fabricated upon the special protocol system of PumaPay Pull Payment.
The PumaPay Pull Payment Protocol upsurges and enables the usage of cryptocurrency in countless ecosystems by presenting an advanced all-in-one billing program through the blockchain system. This protocol is meant to reinvent on the daily basis and the payment by utilizing a new ground-breaking architecture of digital or smart agreement called PullContract.

PumaPay protocol supports a variety of payments like the ones given below:
• One time payment
• Shared payment
• Restricted payment
• Pay-per-use payment

To learn more information about the PumaPay protocol, please visit:

Website: http://pumapay.io/
Twitter: https://twitter.com/PumaPay
Facebook: https://www.facebook.com/PumaPay/
Telegram: https://t.me/PumaPay
Reddit: https://www.reddit.com/r/PumaPay/

Author: Brainerdpaul
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