What is PumaPay? A Blockchain Based Pull Payment Protocol
Over the years, payment cards like debit or credit cards has been one of the most common methods used by retailers, customers and businesses for any online and offline transactions. But payments cards are failing to adhere to the needs of the fast growing global economy due to its lack of infrastructural efficiency, huge commissions and fees.
The introduction of Bitcoin as a virtual payment mode was a positive step to modernize the payment system to make it more user-friendly and cost-effective. But, it had its own drawbacks. The Bitcoin as a payment mode needs to be more developed and more accepted by merchants and customers. The cryptocurrency payment system needs to be more comprehensive, accessible and flexible.
What is PumaPay?
The PumaPay is the first ever comprehensive Blockchain based billing protocol that offers payment protocols, which are flexible, accessible, efficient and cost-effective. PumaPay has a unique feature called the Pull Payment Smart Contracts, which will overcome the limitations of cryptocurrencies, Bitcoins or Litecoins and make all offline and online Blockchain transactions and billings easy and accessible to all its users. It is designed specially to facilitate flexibility in crypto money transactions.
Crypto wallets will enable customers and merchants to make and approve electronic withdrawals. Businesses also have the flexibility to choose the billing mechanisms. PumaPay is a robust and flexible payment system that will solve all the problems of modern payment processing. PumaPay token or PMA is used for all its transactions and withdrawals. The PMA is ERC20 compatible and runs on the Ethereum platform. The PumaPay wallet supports all Androids, iOS, chrome or other operating systems.
- The Pay-Per-Use feature enables customers to pay only for the services or products they use.
- Multiple billing options allow flexibility to the merchants by giving them the control of choosing their own billing mechanisms.
- Overcomes the risk of frauds, chargebacks and associated fines.
- A decentralized billing system eliminating the middlemen thus cutting down fees significantly that ranges anywhere between 3% to 15%.
- A standardized payment method which will attract bigger players in the near future.
- Allows recurring payment methods like subscription fees or utility bills etc.
- Shared Payment: This feature allows the payment protocol to divide the payment between multiple parties.
- The PMA token enables to channelize cryptocurrency between merchants, customers and businesses for everyday purchase of products and services.
- Increase in trust between merchants and customers due to transparency in the transactions.
PumaPay Mission: Reinventing everyday payments
The cryptocurrency economy was failing to provide its commercial value and use to vendors, merchants, customers and individuals. The Pull payment feature along with smart contracts will ease the cryptocurrency operation. Cryptocurrency is a decentralized payment mode which enables direct transfer between two parties eliminating the role of intermediaries. This process is termed as “Push”. But, in reality its implementation is not so easy.
PumaPay aims to give its power in the hands of its users like merchants by letting them use and select their own billing plans and setting limits for withdrawals. The users now have access to a huge amount of crypto money thus giving them purchasing power and confidence. The main mission is to work hand-in-hand with the Launch Partners to create a marketplace where creators and users will get a higher revenue share as well as enable growth of this new decentralized platform.
Raised Fund In ICO:
The PumaPay team is pre-selling its PMA tokens to qualified companies and individuals. Crowd sale is not allowed due to its regulatory measures. The minimum amount accepted in Private Sale is 50,000 USD. It accepts ETH, USD, BTC and EUR. The total amount raised is $ 117,019,041. Total token supply is $ 78,042,956,829. A detailed financial plan will be developed by the company regarding allocation and division of its funds for development of the system and covering the operational costs.