PUMAPAY: THE BEST OF BLOCKCHAIN AND PAYMENT SYSTEMS

PumaPay is a unique billing system aimed at the integrating of the innovative blockchain technology with the standard payment methods. The protocol simplifies the process of using digital currency in multiple information sources. In accordance with the developers’ plan, PumaPay will enhance the quantity and quality of payment transactions in digital currencies and obviate the need for intermediate sellers. Thus, merchants will get the opportunity to save their money on commission charges, as well as protect themselves from possible frauds and charge-backs.  

   Mission of PumaPay

The founders of the protocol take into account the fact that online bill settlements are never adjusted to the changing standards of digital trade. Realizing, how difficult it is for people to face and solve the problems coming from the standard system of transaction processing, they decided to develop a wholly modernized platform performing the following functions:

• Development and piloting of the protocol that would support comprehensive payment means based on the blockchain practices;
• Deconcentration of the billing environment and saving of people’s funds on considerable intermediary costs;
• Assignment of the unified manner payment for all users and raise of the rate of digital currency employment for different billing modes.  

   Platform’s Concept 

By its very nature, PumaPay is an open source protocol aimed at direct withdrawals and driven by the blockchain framework. It provides an innovative scheme of online payments making the process of electronic funds transfer more efficient, beneficial, and safe in comparison with payments by credit cards. PumaPay is meant to cut down the quantity of issues associated with different payment schemes and to provide multiple tools for the simplification of the on-boarding processes for both legal and natural persons. 

The system of PumaPay features a specific architecture of interactive contracts ‘PullPayment’. It provides every user with an excellent opportunity to adjust his digital payments and dealings to the improved scheme of cryptocurrency operations. With this mechanism, individuals and organizations are empowered to perform direct transfers without any necessity in intermediary parties. The PumaPay protocol lets its customers plug-in multiple billing solutions in order to accept digital currencies directly, without the need for credit cards and billing processors. Besides, it offers a user-friendly and adjustable billing solution, which addresses all standard billing processes, such as pay-as-you-use, single, shared, restricted, and periodic payments.  

   PumaPay Economy

The tokens of this system are called PMA. They act as the coordinator of the platform’s unmatched functionality. Besides, PMA is the only pattern of financial transfers between the users within the system. These tokens are easily converted from other digital currencies and from fiat. The platform’s developers are sure that PMA will be successfully adopted in multiple industries, including multiple real-time services and e-tail. When these tokens become a legally valid payment product, the team is planning to boost the overall number of PumaPay users up to a critical mass and build in such a way a prosperous cryptocurrency-based economy.  

Initially, PMA tokens will be created as ERC223 compatible digital funds based on the public Ethereum blockchain. Later, PMA V1.0 will be modified up to PMA V2.0. The latter will be founded on the next generation blockchain and consonant with all the opportunities of PumaPay Protocol. The total supply of PMA will be issued in the Token Generation Event, and this will be the only time when users will be able to purchase this currency. The developers emphasize that there will be no additional token sale after the TGE.  

   PMA Token Sale

The TGE will start on April 26th 2018, at 12:00 am and last for seven days. The funds will be sold at a fixed price denominated in Ethereum. The developers are going to sell 20% of the total amount of PMA that will be generated by the system. During the Soft Cap they are planning to develop 20,000 Ethereum, while the Hard Cap is fixed at the level of $150 million. The creators of PumaPay say that if the Soft Cap threshold isn’t achieved, the project will be annulled, and the participants will get a total refund.   

Within the first 24 hours after the TGE start, PMA/Ethereum ratio will be 50,000, and during the second day it will decline to 40,000. During the third and the fourth days of the Token Generation Event, this ratio will be 30,000 and 25,000 correspondingly. The company’s Bounty program amounts to as much as $200,000 PMA tokens. The project’s contributors will get a special 5% bonus for a purchase of no less than 6 Ethereum.   

   The Team

The project’s establisher and CEO is Yoav Dror. He has over 20 years of leadership experience in multiple online firms. Being a devoted blockchain enthusiast, Yoav is going to do his best to leverage the opportunities of digital funds and the transactions based on them. As for other members of PumaPay Company (Gibraltar), they are Aristos Christofides (Chief Transformation Officer), Giorgos Kourtellos (Blockchain Architecture Developer), Pantelis Foulis (Chief Financial Officer), Sofia Mashovets (Head of Marketing), Gleb Chernov (Vice President on Business Development), and many others.  

The project can boast of a number of world-known advisors, such as Uriel Peled (Blockchain expert, CEO of CoinTree Capital, Co-Founder of Orbs and HEXA Labs.), Dovi Frances (Founder of SGVC, businessman and venture capitalist), Dr. George M. Giaglis (Director of the IFF at the University of Nicosia, Cyprus), and others.  

   Roadmap

The project of PumaPay was started at the beginning of 2018. The second quarter of the year will be devoted to the Token Generation Event. The team will develop the PMA Token V1.0 and integrate it with ImLive.com. During the following three months, they’ll test the next generation blockchain and integrate PMA Token V1.0 with ChatMaker. 

The end of 2018 and the beginning of 2019 will be devoted to the development of PMA Token V2.0. The system will gets its Android Wallet V2.0, Chrome Wallet V2.0, and iOS Wallet V2.0. The wallets will be integrated with ImLive.com, ChatMaker, and Early Adopters. The following developments and improvements of the platform are under development.

     Summary

With its promising mission and elaborate development roadmap, PumaPay seems to be a very ambitious project that will attract lots of contributors from all over the world. Indeed, many companies and individual persons have to face the issue of expensive and poor payment methods, while today’s blockchain framework is unable to optimize the overall payment processing scheme. The PullPayment Protocol will promote the use of digital currencies in online and offline markets, eliminating the need for intermediate sellers and avoiding the risk of fraud. The only question is whether the developers will be able to get the project into shape and achieve all their objectives.  

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