PumaPay's open-source Pull Payment Protocol is a comprehensive blockchain solution

bintele (7)in #pumapay • 6 years ago

PumaPay's open-source Pull Payment Protocol is a comprehensive blockchain solution which offers robust payment mechanisms far more credible, efficient, flexible, cost-effective, and scalable than current implementations (credit cards). Unlike today's payment methods, which include credit cards and virtual coins like Bitcoin, the Pull Payment Protocol was designed from the ground up specifically to overcome existing hurdles and offers a set of tools developed to facilitate onboarding processes for both businesses and individuals.

With PumaPay merchants can:
Plug-in various billing solutions to enable acceptance of cryptocurrencies directly, replacing credit card companies and other billing processors
Offer customers comprehensive and flexible billing solution, addressing all common billing practices, including recurring, pay-per-use, etc
Eliminate risks of fraud and chargebacks and associated fines.
Saves the exorbitant middlemen transaction fees ranging from ~3% to as high as ~15%

PumaPay Mission

As high-volume transaction experts, we are well-aware of the fact that credit cards, the foundation of online billing and payments, were never fully adapted to the world of digital trade. We’ve experienced firsthand the issues merchants face daily thanks to an outdated system of transaction processing. It didn’t take much for us to see the potential of blockchain to solve these problems. Our mission is to modernize payment processing systems and lay the foundations for a thriving cryptocurrency economy built on the PumaPay Pull Payment Protocol.
The Protocol is designed to:
Standardize and enable comprehensive payment methods over the blockchain
Decentralize the billing layer and save substantial intermediary costs for merchants
Increase the use of cryptocurrency both online and offline and facilitate it as a standard means of payment
Enable powerful launch partners to disrupt their industries by creating a decentralized version of their platforms

See details: Whitepage

The PumaPay Pull Payment Protocol

PumaPay is a free, open-source, blockchain based payment protocol featuring the unique architecture of PullPayment: Smart contracts that invert the mechanics of common cryptocurrency operations. Cryptocurrencies were designed to allow only one type of transaction – sending money from side A to side B, also known as ‘push.’ Our PullPayment Protocol enables a ‘pull’ action on the blockchain, allowing side B to connect to side A’s address via a PullContract and ‘pull’ funds into side B account. This is, of course, subject to predefined terms and prior acceptance of the transaction by side A.

PumaPay’s Protocol was designed from the ground up to facilitate flexibility in transaction mechanics. The innovative architecture opens the door to a whole universe of payments mechanisms that are either impossible or unfeasible when relying only on a ‘push’ action: Subscription fees, direct debit, pay-per-use, and more. The protocol is highly flexible and adaptable, giving businesses the opportunity to apply their processing business logic on the blockchain.

Comprehensive
A robust, credible and scalable protocol that enables a full spectrum of billing methods.

Flexible
The Protocol allows merchants to apply their business logic and have the freedom to choose between an out-of-box solution or a custom-made implementation.

Accessible
Enables frictionless access to the benefits of blockchain technology, with SDK and API for merchants and a wallet app for customers

PMA Economy

The PumaPay token is the facilitator of the protocol's unique functionality. It is the only means of value transfer between parties over the protocol and it can be converted from any other cryptocurrency or fiat. We expect the adoption of the PumaPay token within online and offline industries, especially in the e-commerce and online services. By facilitating the integration of our protocol and making PMA a de-facto payment means, we intend to achieve a critical mass of users, thus building a thriving cryptocurrency economy.

Our token economy rests on four pillars:

Early Adopters
Businesses from various industries who have already committed to integrating PumaPay's Pull solutions.

Launch Partners
Our launch partners will integrate the PumaPay Pull Payment Protocol into their platforms and work closely with us to create a basis for decentralizing entire industries through widespread adoption of PumaPay Token.

PumaPay Pride
An application integrated with our wallet where PumaPay token holders can explore places to use their tokens, thus significantly increasing traction at participating businesses.

Third Party Complementary Service Providers
Enable third-party companies to create a layer of services on top of the Protocol, contribute to the PumaPay ecosystem, and create new business opportunities for businesses (e.g. credit networks, security, code verification and more).

PumaPay is Coming to iFX Expo 2018!

PumaPay is on the roll! After making the headlines of the international press following our project funding and token generation, we’re stirring the spirits even more with our presence at iFX EXPO International. One of the biggest financial industry events will be happening next week, May 22-24, 2018, in the seaside town of Limassol, Cyprus, where the PumaPay project is based.

We are thrilled to take part in a financial event of this caliber, which will give us the opportunity to connect with leading professionals from the financial sector. The three-day event will help us spread the word about PumaPay across the industry, and at the same time let us make our mark as the provider of a robust payment solution developed to serve merchants and payment processors from every line of business, including financial technology.

Eager to be the first to share the good news with the community, PumaPay CEO Yoav Dror says:

"We are excited to announce that PumaPay will be participating in the iFX EXPO International on May 22-24 in Limassol, Cyprus. We are looking forward to the opportunity of connecting with even more representatives of the financial services industry, introducing the benefits of PumaPay, and expanding the number of our Early Adopters. We’ll be at the booth 167. If you are attending iFX EXPO this year, be sure to stop by and say Hello."

With a solid ecosystem made up of Early Adopters, market leaders in different high-risk industries, who boast handling transaction volumes that exceed $10 billion per year, we are ready to share our payment solution with the forex and other financial service providers community!

See you at booth 167! If you cannot attend iFX this year, just keep an eye on Telegram, we have a lot of announcements coming up.

The PumaPay Token

The PumaPay Token (symbol PMA) is the facilitator of the protocol’s unique PullPayment functionality. It is the only means of value transfer between parties over the protocol and can be converted to/from any other cryptocurrency or fiat.

The token will initially be developed as an ERC20 compatible token over the public Ethereum blockchain (PMA V1.0). This will facilitate the TGE as well as the initial usage of the token as a means of payment on our Launch Partner’s platforms from day one.

To ensure the long-term scalability of the project and to meet potential needs of the community, we may decide to migrate the PMA token by either upgrading it or moving to another blockchain. In case of migration, a formal announcement will be released on our website and through our official Telegram channel. PMA holders will have the ability to convert their V1.0 token to the new version. In case of such a migration, all necessary guidance and tools will be provided in our Github repository.

The final and total supply of tokens will be issued in the TGE and there will be no future addition to this amount.