Here's What You Need to Know About PumaPay's Innoative Payment Method

romanpetrush (39)in #pumapay • 6 years ago

PumaPay aims to create a robust and dominant method that can overcome the restrictions and limitations of conventional payment systems.

Needless to mention, today's conventional payment systems are inefficient, costly, slow, and centralized. For instance, one of the most widely used payment systems is Card transactions. And, the structure of this payment system is extremely complicated and involves a set of authorities i.e. Issuing Banks, Credit Card Associations like Visa, AmEx, and MasterCard, Payment Gateways, Acquiring Banks, Processors, and more. These authorities have the provision to control/regulate their networks, set up new rules and regulations (for their own benefits), and apply incumbent fees and charges.

To overcome these limitations, PumaPay has introduced the concept of PullPayment protocol (under development) by utilizing an advanced architecture i.e. PullContract. PullContract offers a new, innovative, and efficient billing methodology, by leveraging the benefits of the blockchain technology.

Brief Review of PumaPay:

PumaPay is implementing a free and open-source Pull Payment Protocol that will not only overcome the constraints and limitations of conventional payment methods, but also it will make the payment mechanisms more flexible, fast, credible, efficient, and cost-effective. The best part is -- PumaPay's proposed payment solution will be equally helpful for both customers and merchants. It can be used as a simple, single transaction method. Alternatively, PumaPay's PullPayment method can be also used in facilitating complex transactions, such as split payments, pay-per-use payments, recurring payments, and exchange rates etc. Another notable feature of this revolutionary payment method is that it can be customized or tailored to an individual's specific business needs.

Considering all of these aforementioned features, I believe that PumaPay's PullPayment method has the potential and capability to disrupt today's inefficient and ineffective payment system.

Innovative Aspects of PumaPay & Its Payment Method

Leveraging the usage of the blockchain technology, the innovative PullPayment method will be soon replacing the traditional credit card transaction systems and billing processors. Please keep reading and reveal six innovative features of this payment mechanism.

I) It will make the entire payment system credible, cost-effective, scalable, flexible, and robust.

II) It will disrupt the monopoly of centralized banking institutions and make the system decentralized.

III) It will eliminate the risks of chargebacks, fraudulent transactions, and associated fines.

IV) It will save the exorbitant middlemen transaction charges/fees that vary something between 3% - 5% of your total amount of transaction.

V) The protocol will be applicable to both simple transactions and complex transactions.

VI) Meant to be useful for both merchants and individual customers, the protocol will create business opportunities for the third-party companies that can design additional services on the architecture of PullPayment ecosystem.

About ICO token sale

Please note, the core architecture of PumaPay's payment method revolves around its token. The token is primarily designed for the online e-commerce service providers and digital content creators. PumaPay ICO token sale will originally start from 26th April, 2018 onwards. However, if interested, you can book your tokens and join the presale.