Blockchain Company’s Successful Launch has created the Platform to Advance Cryptocurrencies

Jul 7, 2018

PumaPay’s open-source Pull Payment Protocol offers a comprehensive blockchain payment solution that is far more credible, efficient, flexible, cost-effective, and scalable compared to current payments methods like credit cards.

With the rise and spread of Blockchain technology some companies have chosen to make the use of cryptocurrencies easier and more efficient. PumaPay is one such company, and with their recent successful launch of the PMA token and their subsequent open-source Pull Payment Protocol, they are set to streamline the use of cryptocurrency.

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The main issue PumaPay promised to solve was the issue of direct and recurring payments. Unlike the modern debit or credit card, virtual coins like Bitcoin were not able to be taken from an e-wallet for a recurring payment.

In light of this, PumaPay developed a comprehensive blockchain solution which offers robust payment mechanisms. According to PumaPay themselves, these mechanisms are far more credible, efficient, flexible, cost-efficient and scalable than current implementations such as the credit or debit card.

The successful use of smart contracts and pull contracts works around current limitations in recurring cryptocurrency payments. This allows for businesses to start transitioning from direct debit payments to direct payments using cryptocurrencies. A future in which your gym membership will be paid in Bitcoin is now closer today than ever.

There will be several pull contract uses available to users of PumaPay, ranging from the already mentioned fixed recurring payments to pay-per-use options to shared payment options to even restricted payment options. Pay-per-use utilizes pull contracts to charge clients on a pay-per-use basis, such as expert counselling. Shared payment is the flexible option to divide payments between a party. Restricted payments can be authorised to set up parental blocks on child spending or set limitations on payments to never exceed a set amount.

On top of this, businesses and individuals who pay using cryptocurrencies with PumaPay have a variety of benefits such as eliminating risks of frauds, charge backs and associated fines and even saves the exorbitant middlemen transaction fees ranging from 3% to 15%.

PumaPay raised a momentous 117 million dollars, showcasing the wide-reaching support for their vision and now with the company being in the post ICO stage they can move forward with their implementation. This has begun with another successful launch, this time of their app PumaPay Cryptocurrency Wallet.

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Visit the links above for more details.

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