Voice of the Industry

PumaPays crypto-friendly payments

Monday 26 August 2019 08:26 CET | Editor: Melisande Mual | Voice of the industry

Yoav Dror, PumaPay’s CEO, explains how the company is pushing for cryptocurrency adoption, now that the industry is significantly driven by blockchain-based crypto payment systems

Cryptocurrencies are increasingly gaining more popularity as the latest surge in the price of Bitcoin attests and, we believe, by 2020 they will become mainstream. Market analysts have suggested that the recent interest in cryptocurrencies has been partly driven by mainstream institutions and organisations researching, adopting or implementing payment solutions with cryptocurrencies. While there are obvious geopolitical, technological, and regulatory drivers, the wider acceptance of crypto payments by international companies cannot be neglected. Facebook is already aiming to launch its own cryptocurrency called Libra in 2020, something that will further boost usability and bring crypto payments in the realm of everyday life. From major organisations like Microsoft and Amazon to J.P. Morgan’s JPM Coin, the world’s biggest companies are bringing cryptocurrencies into mainstream finance, significantly shifting the existing paradigm.

We believe that such a change will be largely driven by blockchain-based crypto payment systems such as PumaPay. We are the pioneers in introducing Flexible Billing Models on the blockchain, as we have elevated the concept of transactions by moving from simple push transactions to a universe of possibilities with pull payments. We gave back businesses the control they wanted by streamlining online payments and improving business and customer relationships through flexible billing and efficient pull transactions.

By adopting blockchain technology and creating a token economy based on the PumaPay (PMA) token, PumaPay is driving innovation at the token level. By developing a range of products for both end users and businesses, our robust cryptocurrency payment system is built around the idea of utility, so that cryptocurrencies can be used in everyday scenarios.

How is PumaPay pushing for cryptocurrency adoption?

PumaPay is visionary and has a clear strategic plan: to work with forward-thinking businesses which want to innovate, change, and adopt in order to implement the financial system of tomorrow. To boost cryptocurrency usability, PumaPay has designed products and solutions that will shape the ways we perceive finance.

First and foremost, our Business Console, which will enable businesses to accept crypto payments, will integrate a third-party fiat settlement layer so that businesses can accept crypto payments, without worrying about volatility and liquidity. In this respect, we create usability by establishing this settlement layer which will allow both customers and businesses to settle in whichever currency they wish, without needing to know each other’s preferences. For example, a business could accept fiat, while its customers could choose to pay in any currency they wish: fiat, BTC, or PMA. The settlement layer is envisioned to work in such a way that the businesses will have zero exposure to crypto volatility while enjoying 100% liquidity. By implementing this solution, we’ll be able to close the cryptocurrency loop, making it viable and sustainable for any business to use cryptocurrencies for their products and services.

We are striving to set the standard for flexible billing models taxonomy, and to enable flexible billing not only with cards but also with any sort of billing: pure crypto, crypto/fiat, or digital fiat payments. As our vision is to deliver a comprehensive, easy to use, end-to-end system with all the advantages of blockchain technology and the flexibility of credit cards, we have tried to design a flexible system where businesses can tailor different billing models to suit their needs and ensure customers can pay easily through our wallet app. From simple one-time cryptocurrency payments for everyday transactions to recurring payments, such as regular subscriptions or subscriptions with a free or paid trial period, PumaPay is currently offering a variety of choices for businesses and individuals.

Why businesses prefer PumaPay

It’s simple. We are constantly innovating, developing, and re-designing our products and solutions in line with our partners and early adopters’ needs, so that they respond to their existing and future requirements.

We were established in May 2018 and have already started integrating businesses with our basic solution, learning in the process, and improving our products. Being a straight-forward system that can be easily adopted by modern businesses, our solution has attracted the attention of many companies from different industries, as we were the first to introduce recurring billing on the blockchain.

Not only crypto payments, but we are also aiming to deliver flexible billing models for digital payments, so that fiat and cryptocurrencies become interchangeable, and doing business in either currency becomes the standard for online payments. Our aim is to help both businesses and their customers to access a lucrative cryptocurrency market.

This editorial was first published in our Payment Methods Report 2019 – Innovations in the Way We Pay, which provides a comprehensive overview of the up-to-the-minute trends, updates, and innovations in the payments space worldwide, depicting the key developments in the way people pay.

About Yoav Dror

Yoav Dror is the CEO of PumaPay, one of the biggest ICOs in 2018, which raised over USD 117 million. With an MBA and over 20 years of experience in heading online high-volume and high-transaction companies, Yoav is now leading PumaPay’s team to deliver a comprehensive digital payment system, which will enable businesses to easily accept cryptocurrency and fiat payments.

About PumaPay

vspace=2PumaPay is a streamlined cryptocurrency payment system with its own cryptocurrency mobile wallet app, Business Console payment gateway, and the marketing hub PumaPay Pride. Our PullPayment protocol utilises a new architecture of smart contract called ‘PullContract,’ which inverses the mechanics of the crypto transaction. Instead of the customer sending or ‘pushing’ funds, the business can pull funds from a customer’s wallet based on preapproved terms.

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Keywords: PumaPay, cryptocurrencies, payment methods
Countries: World