PumaPay - ICO By The Number

PumaPay

PumaPay is a free, open sourced, blockchain based payment protocol.

What does this mean?

This means that PumaPay is introducing a new system for changing the way we currently make payments in many aspects of our lives including monthly bills, single payments and more.

What is so different about this?

Currently blockchain payments are all initiated by the buyer. The seller gives the buyer their wallet address and the buyer SENDS cryptocurrency to them.

In the non-blockchain world this is not how payments work. Payments are pulled by the seller (or provider) and taken from the purchaser with permission.

This is what PumaPay is going to do, it is going to reverse the payment system using a set a smart contracts called PullContracts. These will allow the billing and payment procedures that we are familiar with to continue as normal but will provide the added security of being on the blockchain.

What kind of payments will PumaPay allow?

The initial PullContracts are going to be for the most common type of payments. These include:

• Recurring Payments Based on Time - This would be a magazine subscription or gym payment.
• Offline Single Payment - Purchase food at a restaurant.
• Instant Pay Per Use - Telephone consultancy with attorney, charged by the minute.
• Recurring Payments Based on Time with Variable Amount - Utility bill payments.
• Restricted Payments - Payments that must be approved by 3rd party limiters or authorizers.
• Shared Payments - Consignment store pays owner of goods and takes fee.

What does the PumaToken (PMT) do?

The PumaToken is a very straightforward token. Its sole purpose is to transfer value from one wallet to another.

PMT will allow merchants to save money by not paying the huge fees required by processors and banks and it will allow consumers to pay for things using cryptocurrency.

The token will originally be an Ethereum based ERC223 token but will transfer to an EOS or ORBS based token in the future.

The platform will also be able to convert other cryptocurrencies seamlessly into PMT.

Who will acccept PMT?

The PumaPay team has placed a high premium on early backers and partnerships as can be seen by their ICO token distribution below:

Launch partners include the adult streaming company IMLive.com which will use PumaPay contracts to charge customers on a by minute basis. Other launch partners include ChatMaker, Backpack, FashionTV, SegPay, Mr. Skin, Gamma Entertainment and the Adult Entertainment Broadcast Network.

ICO Info:

PumaPay Webiste || Whitepaper || Telegram || ANN Thread || Bounty Info