At PumaPay we talk a lot about pull payments and the PullPayment protocol. Claiming not to reinvent the wheel, the PullPayment Protocol is one of the hallmark features of PumaPay alongside the PumaPay Pride, which sets it apart from other blockchain-based solutions.
PumaPay innovates by reversing the mechanism of traditional crypto transactions. Instead of the Customer pushing funds to the Merchant, the pull protocol places the Merchant at the forefront, requiring that a pull be initiated by the Merchant, which directly targets the Client’s wallet and, if the Client’s parameters are met, the transaction goes through within seconds.
This pull innovation of PumaPay facilitates standard payment practices that were never possible before on the blockchain, such as pay-per-use, restricted, recurring, shared, and instalment-based payments. By doing so, PumaPay brings the versatility of credit cards to the blockchain, opening a whole new frontier for payments.
PullPayment at work
The solution’s White Paper illustrates a variety of use cases that range from utility bill payments, gym membership and streaming media subscriptions to paying for a dinner out or expense monitoring. This is how it will work:
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