PumaPay is the first comprehensive blockchain-based billing protocol. Using unique smart contracts, PumaPay overcomes the limitations of many other cryptocurrencies, making blockchain billing easily accessible for both online and offline markets. Pumapay’s contracts allow businesses to choose any type of billing mechanism, decentralizing the entire billing layer.
Pumapay is designed with the idea to serve merchants and establish cryptocurrency into the sector of digital payments. The PumaPay protocol is designed with both on-chain and off-chain components, allowing ease of use and access to users. Pumapay is firstly introduced on the Ethereum blockchain but intends to build its own token in the future.
The first component of the network is the PumaPay Token Contract, which mediates and validates the ownership of PumaPay tokens among accounts.
The PullContract is the second and one of the most important components of the ecosystem. It is a smart contract that represents a payment relationship between accounts and is responsible for the token transfer between them. These contracts can have flexible parameters, allowing merchants to develop their own billing methodologies.
PumaPay’s off-chain part includes components like the PumaPay Wallet and The PumaPay SDK.
The PumaPay wallet facilitates payment interactions between accounts, with a mobile version as well as a browser versions being developed.
The PumaPay Software Developing Kit is a set of tools for developers who need to truly leverage the protocol, allowing them to build different solutions based on the network’s abilities.
The PumaPay ecosystem will be built entirely around the token. The uniqueness of the PMA token comes from the fact that it will allow the implementation of comprehensive all-in-one billing mechanism in a simple, flexible way.
While the project is very solid, being in the payment servicing and processing industry means it faces competition from industry-leading giants like Amazon, Tencent and Stripe. The question of adaptation is definitely one that causes concern, as one would ask why anyone would choose PumaPay when they can go to anyone of the other established and reputable payment service providers.
The PumaPay is one of the better projects out there, it already has a working Mainnet where the PullPayment protocol is functioning fully while also allowing for recurring payments. While people are skeptical of blockchain projects like this, it definitely has some unique propositions and features that make a huge difference when compared to any of its centralized competitors. We’ll definitely be expecting to see what the future holds for PumaPay.
