Guest Post from Rachel Wolfson
After a weeklong roadshow across Asia, PumaPay hosted its final meetup at their office in Tokyo, Japan on Tuesday evening.
One hundred people came to hear Yoav Dror, CEO and co-founder of PumaPay, speak about the future of payments on the blockchain.
“The core of our business is payments. There are many high-risk companies dealing with payments that are suffering from pains caused by existing payment solutions. At its essence, blockchain has everything required to solve these problems,” Dror explained in his opening speech.
By utilizing blockchain technology, PumaPay has created a decentralized payments solution that can be used with credit cards. The solution allows for advanced payments to occur over the Ethereum blockchain network, something that has not been previously possible. High-risk businesses, such as those in the adult entertainment or dating industries, tend to benefit the most from this solution.
“There are 3 major pain points that high risk businesses face when it comes to payments: high transaction fees, long settlement times, and chargebacks, which is the greatest problem of all,” Dror explained.
In order to demonstrate the benefits that PumaPay’s solution can bring to businesses, Dror presented the audience with a detailed demo, showing how PumaPay’s unique PullPayment Protocol works.
“Our blockchain-based “Pull
Yet while PumaPay’s payment protocol is advanced and well developed, Dror pointed out that adoption remains gradual, partly due to the notion that businesses and enterprises are weary of cryptocurrency volatility. In order to solve this, PumaPay is now adding a fiat settlement layer to the system, which Dror made a point to mention.
“This settlement layer will guarantee the rate of the token to the merchant, saving the business the hassle of liquidating tokens from an exchange and sending those funds to a bank account.”
Ending on a High Note
While the Tokyo meetup was the final in PumaPay’s roadshow, it also might have been the most detailed and educational. By presenting the audience with a demo, Dror successfully showed the benefits that PumaPay could bring to merchants and businesses across the globe.
“Our Tokyo meetup was a great success, as we were excited to hear that PumaPay’s solution is here and ready to integrate. There is a growing demand for “cashless” solutions in Tokyo, especially due to an anticipated upswing of visitors during the Tokyo Olympics in 2020. PumaPay will be needed here to lead the widespread adoption of daily crypto payments, acting as a fast, efficient and affordable payments solution,” said Morio Katayama, PumaPay’s Japanese Representative.
And although the PumaPay roadshow has come to an end, there are major developments in the works. According to Dror, PornHub will officially implement PumaPay at the end of October, allowing their users to pay for subscriptions and more using PMA tokens.
“These are exciting times for PumaPay. Our token was recently listed on OKEx and we’ve just returned from our Pan-Asian tour. Our comprehensive payment solution has the potential to change the payments landscape forever. In the coming weeks, we will start rolling out integrations with our early adopters,” Dror said.
Team PumaPay truly appreciates your continued support.