PumaPay: Unification of Payment Solutions through Blockchain Technology

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A group of people with an extensive background in IT technology as well as knowledge on e-commerce and web branding and marketing took a moment to sit down and brainstorm ideas about a major issue: The online payment methods available around the internet. Yoav Dror, Giorgos Kourtellos, Pantelis Foulis and Milenko Strika firmly believe that the payment mechanisms available around the world are either ineffective or severely lacking features for optimized payouts. Their vision is what gave birth to PumaPay a protocol to process payment on financial transactions using Blockchain Technology.

How does PumaPay work?

PumaPay’s structure is based on the PullPayment protocol currently under development. The system will allow users to use PullContracts to set up a preferred billing method using smart contracts and digital currencies for every operation. The system offers a couple of solutions to specific issues, the first one being using decentralized payment methods with a platform built from the ground and specifically aimed to overcome the problems that are usually related to the use of credit cards, FIAT money transfers, and certain cryptocurrencies. The other one is the creation of incentives to work with digital currencies thus aiming at the massification of the payment system under a robust ecosystem with high levels of security for the merchants and the customers.

What’s PumaPay offering?

One of the distinctive features of PumaPay’s PullPayment protocol will be its open-source development that allows the system to customize the chain of contracts on every single transaction no matter the size of the operation. Users can choose to go with a single, direct payment or with more elaborate schemes such as split payments, pay-per-use, restricted payments or even a combination of them. The open coding gives users the chance to modify the payment mechanism as they see fit in accordance with the other parties involved, and it also offers an option to develop new services that will work exclusively within the PumaPay ecosystem.

Why PumaPay should be adopted?

PumaPay offers a unique business opportunity to established payment networks such as credit cards companies, insurances, and cash-on-delivery methods such as PayPal, Skrill or Payoneer to adopt digital currencies under a friendly environment that promotes profitable partnerships between brands that report significant turnovers. The launching partners will have the chance to build one of the biggest and most powerful networks with thousands of customers in every market around the world ready to spend money in a unified system that will secure payments without time delays or regulations about exchange rates using a secure Blockchain log registry.

Before closing, for your consideration

PumaPay is looking to revolutionize the payment systems around the world by taking away unnecessary layers of banking requirements as well as any other third-party involvement in what it should be straight-up dealings between a buyer and a seller. The company is aiming to become a free service for users, to that end, they are currently in the funding phase and developing the platform. The company is offering the PumaPay token (PMA) built on ERC223 protocols based on the Ethereum blockchain with a required soft cap of $15 million to begin their operations. To learn more about their plans, you can check https://pumapay.io/, Telegram, ANN Thread, BOUNTY Thread