Innovation, design and development is at the heart of the products and solutions we create here at PumaPay. We are delighted to share with you our exciting updates for Q2 as well as our future proposed development for Q3.
What We Have Achieved
We have improved and scaled our framework with the service-oriented architecture by introducing micro-services, making it more lightweight and modular, allowing faster execution, network optimization and flexibility. We have also added multi-tier development enhancements to the Protocol, separating it into different application-specific operational layers and introduced additional programming languages such as C#; which makes it a better solution for applications where performance is important. We believe in multi-language cross platform development principles, where architecture is flexible and scalable for the future enhancements and autonomy, in respect to the software platforms’ dependencies. By adopting these latest technology innovations, we are pushing the boundaries of what our technology can do and delivering a better payment solution that is robust, scalable and secure.
Fiat Settlement Integration
Fiat settlement is a reality! We are in the final stages of integration with our chosen 3rd party extension service, Kemix, for the settlement layer. This will allow businesses to accept cryptopayments from customers, while receiving settlement in fiat directly to their bank account. Our settlement layer works in such a way that businesses will have zero exposure to crypto volatility. We have finalized the live rate algorithm and have implemented it into the PumaPay wallet app. Once a QR code is scanned, we quote the current rate of the PMA token and as soon as the customer approves the transaction, we lock this rate and guarantee it to the merchant.
PSP Solution Stage I
Our highly anticipated PSP Stage I Solution is ready and will enable PSP merchants to accept crypto, with Stage II planned to be launched at a later stage, towards Q3 of this year. Stage I will allow us to integrate with PSPs using our APIs and it will allow merchants to programmatically create and manage their billing models, access data, receive real-time responses from the blockchain and handle errors. Alongside this, we are in the final stages of Payment Card Industry Data Security Standard (PCI) certification. This means that our company follows and complies with global data security standards. Being PCI compliant, allows PumaPay’s APIs to be integrated with regulated PSP organizations.
Native Wallet Apps
Our PumaPay wallet native apps launched for iOS and Android and can be downloaded from the App Store or Google Play. We have upgraded security, improved design, and elevated the performance making it more responsive and delivering a superior user experience. We are planning to further improve our user interface very soon and it will be worth waiting for! Several updates are scheduled for the coming weeks. Stay tuned for improvements.
In the coming weeks, the Business Console will be opening its doors to allow new businesses to register. This means that any business, from any industry, wanting to accept cryptopayments can join the PumaPay ecosystem.
Needless to say, all businesses will have to go through our KYC process. A step-by-step verification process is vital to ensure compliance with AML (Anti-Money Laundering) legislation and Customer Due Diligence (CDD) requirements. We have created an online and streamlined KYC process. Only once the business’ identity has been verified and PumaPay’s policies accepted, can full access to the Business Console functionality be given.
New Billing Model Available
At PumaPay, we listen to the feedback from our Early Adopters. Dynamic pricing is now an exciting reality for business console users! Many market sectors practice dynamic pricing like travel, hospitality, entertainment, electricity, public transport and retail. Businesses are now able to set up flexible prices for products and services based on current market demands through our new dynamic price billing model.
An example of dynamic pricing in day to day life can be seen in the airline industry. The airline industries use advanced computerized systems so that they can alter the prices of tickets frequently depending upon varying factors. Our Dynamic Price billing model allows businesses, like the airlines, the flexibility to update their prices without creating multiple billing models and the price does not have to be hard coded into the QR code. Once the customer chooses the product or service they want to purchase, the price will lock, and they will be taken to the checkout page to pay.
We are proud to announce that we have started integration with the Next-Generation Administration and Tracking System (NATS) which is the adult industry’s leading third-party affiliate marketing and subscription software. Tested and trusted by the adult entertainment affiliate programs world-wide, NATS is looking to utilise and offer our PullPayment Protocol to its merchants. NATS merchants will be able to onboard the PumaPay Business Console. Once they have been approved by the compliance team, PumaPay will appear as an additional payment option for them on the NATS platform. More on this exciting development soon.
The First Integrations!
Our pioneering integrations are now well underway with HoloGirlsVR and Utherverse using the Business Console to set up their crypto billing models. HoloGirlsVR are using the monthly subscription billing model and Utherverse are offering their customers, the single one-off payment and monthly subscription. We are in the final stages of integration and we will be releasing an official announcement soon.
Below is a sneak peek to the HoloGirls payment page:
Europe’s biggest FinTech and Financial Services event, Money 2020, was attended by PumaPay’s Business Development team in Amsterdam last month. We established some very important connections at the event and look forward to sharing these developments with you. We are also in discussions with several large organizations within Europe, exploring their requirements and tailoring a cryptocurrency payment solution for them.
Coming Up This Quarter
We have another quarter full of exciting enhancements, important releases and even more products. We will of course give you more details when we can and expect many more integrations with our Early Adopters and NATS coming soon.
At PumaPay, we are committed to delivering a payment system which aims to solve real everyday problems. Stay tuned for more exciting developments!