Some of you have already heard of it and know what they basically do. We also have reviewed Pumapay before, you can find it in our channel, if you are interested in watching it. They have got a real product in the world right now and hundred thousand people using it.
Let’s start with the exciting news about PumaPay.
Happy Birthday, PMA Token!
PumaPay have concluded the CrowdSale and generated the tokens on Monday, May 7, 2018.
Soon, everyone will be able to buy, sell, and – most importantly – pay with PMA!
They are grateful to their contributors, to their Launch Partner, and to the entire PumaPay community, whose support has set PMA on a path to reinventing daily payments. PumaPay may have concluded the token sale, but they’re just starting the journey. Soon, they’ll be announcing the wallets compatible with PMA. They are also in the process of listing the Token on top crypto exchanges and will keep you updated about the latest developments.
Let’s take a quick look at what pumapay is;
PumaPay's open-source Pull Payment Protocol is a comprehensive blockchain solution which offers robust payment mechanisms far more credible, efficient, flexible, cost-effective, and scalable than current implementations (credit cards). Unlike today's payment methods, which include credit cards and virtual coins like Bitcoin, the Pull Payment Protocol was designed from the ground up specifically to overcome existing hurdles and offers a set of tools developed to facilitate onboarding processes for both businesses and individuals.
As you can see PumaPay is a free, open-source, blockchain based payment protocol featuring the unique architecture of PullPayment. Now let’s take a look at the list of use cases the Pull Payment Protocol will enable on the blockchain:
Fixed Amount Recurring Payments
The Pull Payment Protocol enables the creation of contracts that charge a fixed amount based on time- for example, monthly subscription fees.Pay-Per-Use
Pull contracts can be used to charge clients on a pay-per-use basis, for example for expert counseling charging by the minute.Fixed Time Recurring Payment
PumaPay’s Protocol can set up recurring payments based on time with a variable amount. For example, utility bills.One Time/ Single
Pull contracts can be applied to a single payment both online and offline via wallet app.Shared Payment
The flexible Pull Payment Protocol can also be used to divide payment between multiple parties. For example, to facilitate an affiliate program.Restricted Payment
A pull contract can also be restricted according to the user’s preferences, for example ensuring a payment never goes above a certain amount or set up a parental block on child’s spending.
In order to get better understanding we need to look closer at the project and read the whitepaper. I suggest attempting to read it, if you were interested in the project.
Let’s get into a little economy now.
PMA Economy
The PumaPay token is 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. They expect the adoption of the PumaPay token within online and offline industries, especially in the e-commerce and online services. By facilitating the integration of their protocol and making PMA a de-facto payment means, they intend to achieve a critical mass of users, thus building a thriving cryptocurrency economy.
Today we have talked about Pumapay.
Upcoming video about PumaPay is “How to use PumaPay” so please subscribe to our channel for upcoming PumaPay videos