PumaPay CEO: We Open The Door For Crypto Payments
What is PumaPay all about?
PumaPay is an open-source Pull Payment Protocol driven by blockchain technology. Our company is located in Cyprus. We are looking for solutions for payment problems from the merchant’s perspective. The PumaPay protocol is a basis that helps to develop robust payment mechanisms. Nowadays the only thing you can do with cryptocurrencies is to send it from one wallet to another. Our service allows a merchant to connect to cryptocurrency wallets of their clients in accordance with the terms they are allowed. We can open the door for crypto payments, which are not possible yet but are very common in the daily life.
What are main features of crypto payments?
Payment cards processing is one of the key elements used by merchants. Still, the payment processing system relies on centralized structures. Hence, users have to struggle with various issues, such as inefficiencies, risks and high fees. This is the reason why our company introduced a payment protocol to provide a robust, flexible and scalable payment system that resolves all troubles connected with payment processing. PumaPay is a complete billing protocol, designed to combine a traditional way of payment method with advanced blockchain technology, and to make the use of cryptocurrencies much easier.
Why is your protocol better than others?
We offer all benefits of crypto transactions. For example, irreversible transactions. Also, the PumaPay protocol requires very low transaction fees. Our service is free of charge. On top of that, I can assure you that our transaction mechanisms are as flexible as if they were done with the use of credit card. We can provide a powerful and flexible instrument, which can help a merchant to create an appropriate payment system that goes along with their requirements. We already have around 40 adopters who have agreed to test our product.
What are your strong sides?
One of the most important features of the PumaPay protocol is its flexibility. The product is meticulously designed and unique. It allows clients to use various types of billing mechanism to achieve their prime needs. The protocol also allows making immediate payments.
What type of blockchain have you chosen?
Currently, our system is built on the Ethereum blockchain, but it is a temporary solution. In the future, we would like to use our own development. We are conducting research about the next generation blockchain, and I believe that our developers will be the first to invent it. Now we test every existing blockchain to adopt the best from them.
Was your ICO successful?
I think yes. We had the ICO in March and managed to attract $117 million. Our token is backed by a solid ecosystem, consisting of big brands in the adult entertainment industry, fashion, online business solution providers. PumaPay is just beginning its exciting journey towards full decentralization and building of a token economy. Our token will be used as a payment mechanism utilized in the PumaPay protocol and based on an ERC233 standard. Honestly, our token has more utility features than the utility itself. Most of tokens are like casino coins, and you can use them only inside the “casino” — I mean inside the platform. But with us, you can hold Puma tokens that are connected to merchants and can be used to pay for their services and products. The faster our ecosystem expands, the more utility features our token gets.
Do you have your own crypto wallet?
The Puma wallet will be used to make payment interaction among accounts. Our wallet is developed for Android and IOS. We also have plans to cooperate with different crypto wallet providers to involve as many wallet systems into our pull payment protocol as possible. We do not want to be a closed system, we want to create enough space for everyone to work with us. Our strategy is to support those who need it. I think, we are building ecosystem inside of the ecosystem.
Why do your clients choose you?
We have created the product many people really need now. And I’m sure we do everything right, because people come to us and want us to become their partners. We are solving real pain points of this world.
What is your main goal?
Our main goal is to create a standardized protocol to enable a comprehensive payment method based on blockchain. Also we aim to provide a standard payment method and increase the usability of cryptocurrency in both online and offline modes.