PumaPay: Building An Interconnected Economy


Unemployment Line -economy 2012 Series Of 3 is a painting by Cindy Micklos

The problem with current payment design is that they fail to adopt to modern needs.

A business merchant currently have customers pay through Paypal-subscription for recurring payment, but then the merchant getting a really high level of non-payments and Paypal end up cancelling the members profile. It turns out that the customers do not set up their paypal’s funding source correctly.

But then another issue arises when Paypal users always failed to pay for a subscription even though they have enough money in their bank account for the instant transfer payment (read: recurring payment). And it affected a lot of customers.

The problem also happen if we use credit card for recurring payments like instant bill payments. If your card change the issuer, for example from AmEx to Visa, then you will need to manually move each recurring bill one by one.

The system that should have saved users time on paying bills will take them hours to do the changes. There’s no quick and easy way to move recurring charges from one credit card to another, and that’s a problem. The risk for credit card customers is whether they might be charged a late fee or even worse, they might have important services cut off.

The currrent system proved to be ineffective and inefficient, with users and merchants taking longer than the estimated time and caused extra cost.

Is there a reliable and trustworthy way of collecting payment directly from the people?

PumaPay comes with a solution called “PullPayment Protocol” which enable new billing methodologies over the blockchain. It is a robust payment platform built on the blockchain. By utilising blockchain technology, customers & merchants can rest assured by taking advantage of the trust and transparency without need for any intermediary and eliminate the transaction fees up to 15%.

The “Pull” contract works like this; let’s say Bonnie’s eBook is one of the biggest eBook stores in Europe and charge their users with a monthly subscription for $9,99/mo using PumaPay protocol.

Annie loves to read fiction eBooks from her Kindle, so she agreed to the PullContract (PumaPay Token Contract) and authorize Bonnie’s eBook to “pull” funds from Annie’s wallet. All of this process happen on the blockchain. Though blockchain always related to cryptocurrency payment like Bitcoin or Ethereum, PullContracts are designed with flexibility and can be implemented to allow many different payment mechanism and features.

With PullPayment smart contract, there will be no failed charges or fraud issue.

For business merchants this will be a major advantage since recurring payments are much less likely to be late and for subscription services the renewal rate will be higher. PullPayment Protocol will saves everyone’s time with less clutter in a more convenient way.

The PumaPay Pull Protocol will be backed by PumaPay token (PMA) as 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. With the adoption of the PMA within online and offline industries, especially in the e-commerce and online services, PumaPay is building a thriving cryptocurrency economy.

Imagine the world where all business merchants can charge their customers without intermediaries (banks or payment processors) and the customers can trust the merchants to pull funds directly from their wallet in terms of cryptocurrency or fiat, with lower fees and risk.’


Together, we can change the way we pay!



Author: anti.cash

Share This Post On