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PumaPay, a cryptocurrency-based pull payment system designed as a decentralized alternative to traditional credit card transactions, announced the successful completion of its ICO stage after raising $117 Million USD and has launched a detailed overview of the benefits of its revolutionary technology. The payment system allows the creation of flexible pull payments using cryptocurrencies, offering merchants and consumers the opportunity to benefit from a wide range of secured and decentralized billing solutions for different types of services.
More information can be found at https://pumapay.io.
Recent developments in digital trade have rendered traditional credit cards impractical for a wide range of cryptocurrency transactions, with merchants and consumers having to pay significant intermediary costs and being vulnerable to potential online fraud.
PumaPay was designed to overcome the challenges of credit cards by creating a decentralized pull payment system that is perfectly adapted to modern cyrptocurrency transactions.
The new technology allows businesses and consumers to develop an automated billing system for different types of practices, including recurring payments for subscriptions and other regular services, and pay-per-use transactions. Rather than the consumer having to manually pay for the services, PumaPay allows the service provider to automatically withdraw cryptocurrency from the consumer’s account, based on a series of mutually accepted protocols.
The system eliminates the exorbitant 3 to 15% fees practices by intermediary parties and the risk of fraud, chargebacks and associated fines.
PumaPay expects to significantly increase the use of cryptocurrencies for a wide range of transactions, thus contributing to the development of a vibrant digital trade industry.
The ICO stage of the PumaPay project was completed successfully, with more than $117 million raised and a total token supply of more than 78 billion.
A spokesperson for the company said: “We’ve experienced firsthand the issues merchants face daily thanks to an outdated system of transaction processing. It didn’t take much for us to see the potential of blockchain to solve these problems. Our mission is to modernize payment processing systems and lay the foundations for a thriving cryptocurrency economy built on the PumaPay Pull Payment Protocol.”
Interested parties can find more information by visiting the above-mentioned website.
Release ID: 357975