PumaPay is a free, open source, blockchain-based payment protocol. It is built with the vision to smoothly incorporate cryptocurrency payments into the daily life. The PumaPay protocol aims to solve the ‘pains’ of merchants by allowing them to process crypto currencies and minimize their dependency on inefficient, outdated payment methods like credit cards.
Our protocol offers a unique architecture of smart contracts inversing the mechanics of transactions. Instead of having the customer ‘send’ or ‘push’ their funds to the merchant, the PumaPay protocol allows the merchant to connect to the customer’s wallet and, following the approval or a set of rules, ‘pull’ the funds. This is why we call it ‘pull protocol’ and ‘pull payments’. Merchants and consumers can set multiple parameters and limitations, so the payment mechanism can work to their needs.
The PumaPay pull payment protocolenables payment practices, such as recurring payments, pay-per-use, direct debit, shared payments (think commissions and affiliate programs) and more, which have been impossible on the blockchain before.