A brand-new protocol has arrived to help merchants process crypto payments. PumaPay Protocol blockchain-based billing solution that will provide merchants with a comprehensive access to processing crypto payments.
The PumaPay Protocol was created by Decentralized Vision, a dedicated blockchain startup working on merchant systems for processing crypto payments. The innovation of PumaPay aims to disrupt the online payment industry, which focuses on credit cards and levies hefty purchase fees, between 3 and 15%. Hosting a credit card payment is not hassle-free for merchants.
"PumaPay intends to solve the genuine problem of utilizing cryptocurrency. Our easy to integrate open source solution, will provide a consumption outlet for the boiling crypto markets enabling vendors to harness cryptocurrency’s potential into their day to day billing mechanisms," said the founder and CEO of Decentralized Vision, Yoav Dror.
PumaPay Protocol aims to improve the payment system by using ERC-233 smart contracts, agile enough to accommodate any billing needs. The smart contracts of PumaPay will work through some of the most common types of payments - pay per use, single payment, scheduled payments, and monthly subscriptions.
Utilizing smart contracts, users will have access to refunds. In the general case, payments on the blockchain are non-refundable, but the PumaPay Protocol will use time-sensitive smart contracts to achieve reversible payments. Users will also be able to control and restrict payments through their wallets.
The community may also evolve the smart contracts in the PumaPay Protocol to achieve custom-made payment schedules, subscriptions and to encourage innovation, the PumaPay project will set aside 10% of the ICO tokens to boost developers and adapters of the code.
In the coming months, PumaPay Protocol has significant developments in the pipeline. Merchants would first be added through an incentive program, and at a later stage, developers would be invited to build solutions on top of the PumaPay Protocol. The process would speed up by the wider adoption of the PumaPay token.
Currently, the PumaPay Protocol is in the pre-sale stage, expecting the ICO soon. Stay tuned to Twitter, the Telegram chat and visit the official site for more details.