PumaPay Protocol, the Real Solution of Blockchain-based Payment Method
The rise of online shopping sites in the past few years is making new changes in shopping industry. People are fonder of doing shopping transactions ranging from daily needs and lifestyle needs through online sites as it is more practical, efficient, and time-saving. That way, the time they have can be used to do other meaningful things for their life. The other convenience provided by online shopping sites is about payment methods. Generally they use payment cards like credit cards, debit cards, prepaid cards, etc. besides that, many sites also provide internet banking that can be directly accessed by smartphone or PC at consumer’s home.
The lack of payment cards
But not everyone has access to using internet banking, so payment cards are still becoming more popular though in fact it makes the user a bit troublesome because payment cards are initially designed for offline transactions where the customer approves the transaction by manually signing the receipt. When we look deeper at payment cards, there is a complex ecosystem consisting of many elements such as Credit Card Associations (MasterCard, Visa, AmEx), Acquiring Banks, Issuing Banks, Processors, and also Payment Gateways. The structure is not efficient because each party has its own authority to manage their system. It makes the users especially merchants must obey the list of unlimited rules dictated by the network owner used. In addition, the owners of these networks require them to pay fees at around 3% -15% of their gross income that indirectly reduce their hard-earned profits.
The presence of blockchain
But nowadays we should be grateful for the presence of blockchain technology as one of the online payment solutions in this modern era. Despite the fact that cryptocurrency developed by this technology is not better than payment cards. This is because the cryptocurrency system is less flexible because most of the methodologies have not been supported by current online billing. This sad fact must be a whip for blockchain enthusiasts to be able to develop a new payment method innovation with flexible, scalable, and accessible infrastructure as payment cards. That way, merchants and consumers will certainly be very helpful and can make transactions in a more quickly, easily and guaranteed security method.
About PumaPay Protocol
The answer to that problem is the presence of PumaPay Protocol. PumaPay Protocol is a payment solution platform project led by Yoav Dror. He is a Blockchain enthusiast who has been a strategic planner and executor for 20 years. Together with his team, Yoav Dror tries to create a platform that can help crypto holders to transact directly with merchants without having to go through an additional layer of banking. By using a powerful and flexible PullPayment Protocol, PumaPay is expected to be the base layer for worldwide cryptocurrency payments.
Broadly speaking, PumaPay Protocol will contain two components: on-chain and off-chain. The on-chain component will perform the functionality of the PumaPay Protocol, while the off-chain component is designed to make the interaction between users and Protocols seamless and easy to use. Details about the components and technologies used by PumaPay Protocol will be explained in the next articles.
Further Information :
Website : https://pumapay.io/
Telegram : https://t.me/PumaPay
ANN Bitcointalk : https://bitcointalk.org/index.php?topic=2658299.0
Twitter : https://twitter.com/PumaPay
Facebook : https://www.facebook.com/PumaPay/