PumaPay: stronger payments that are far more credible, efficient, flexible, cost-effective, and scalable

Introduction
Everything you buy has a price and you pay for it. How you pay for it has changed over the years. Credit cards take over cash and people think this is the end. But today, as the volume of transactions gets bigger and bigger, traders are facing many problems with the current payment mechanism. The high cost of intermediaries, the risk of fraud and theft, the time it takes to process payments, lack of transparency and centralized operating systems are just some of the many challenges facing the industry.

Consumers are at a major disadvantage for all the chaos created by the current payment ecosystem. There is a new and transparent payment mechanism requirement, which allows easy and flexible payment options for consumers. There is a need for a new kind of platform that brings traders and consumers on a single page. Do you think that maybe with the current technology set available in our disposable? http://pumapay.io/

What is PumaPay?
PumaPay is a comprehensive blockchain solution that offers stronger payment mechanisms that are much more credible, efficient, flexible, cost-effective, and scalable than current applications (credit cards). Unlike current payment methods, which include virtual credit cards and coins such as Bitcoin, the Pullback Payment Protocol is designed from the ground up specifically to overcome existing obstacles and offer a set of tools developed to facilitate the orientation process for both businesses and individuals.

Since most people do not understand the technology that supports their debit and credit cards, we'll give you a brief synopsis. When you swipe your card, the Visa network records your transactions and assesses the credit worthiness to complete the transaction completely. Then, your financial institution is contacted within the next few days to verify the transaction.

With PumaPay merchants can:

Plug-in various billing solutions to enable direct receipt of cryptocurrencies, replace credit card companies and other billing processors
Offer a comprehensive and flexible billing solution for customers, handle all common billing practices, including recurring, pay-per-use, etc.
Eliminate the risk of cheating and chargebacks and related fines.
Saves an exorbitant intermediary transaction cost ranging from ~ 3% to as high as ~ 15%

Our mission

As a strong supporter of blockchain and decentralization technology, we are well aware of the gap that exists between online billing needs and existing blockchain solutions. Credit cards are not designed for the digital age and need to be replaced by protocols designed to meet the needs of fast moving, global, and technology-based economies. Our mission is to modernize the payment processing system and lay the foundation for a growing cryptocurrency economy over PumaPay Pull Payment Protocol. This Protocol is designed to:

PumaPay Pull Payment Protocol

PumaPay is a free open-source blockchain payment protocol that creates daily payouts. The core of our protocol is the unique architecture of the PullPayment smart contract that reverses the common crypto transaction mechanism: instead of having A 'send' or 'push' token side B, this allows B side to connect to side A addresses via PullContract and 'drag' the funds into his account. This is of course subject to predetermined requirements and prior acceptance of transactions by party A.

Cryptocurrency is designed to transfer the value directly between two parties, without having to go through an intermediary (P2P) and only allow one simple transaction type - 'push'. Although this may be enough as a POC for cryptocurrency, it is certainly not enough to make them a widely used payment tool because it does not meet the requirements of modern commerce.

The PumaPay PullPayment Protocol is designed from the ground up specifically to resolve this issue and to facilitate flexibility in transaction mechanisms. The innovative PullPayment architecture opens the door to all the very common payment mechanisms in our everyday lives, both online and offline, but until now it is impossible or practically inappropriate via blockchain such as regular payments, direct debit, per usage etc. In fact, the protocols are so powerful and flexible, allowing every business to design their own transactions and apply their own business logic.

Case Study

Rock (a fictional character) knows that his utility company has just introduced PumaPay as a payment option. So, he wants to use PumaPay to deposit regular payments to pay his utility bills each month. After providing the account details, PullContract is created using the PumaPay SDK and QR code for the same thing displayed on the screen. He scans the QR code to find out the details of the contract. This explains that the contract can automatically withdraw the variable amount of each month based on its electricity consumption. Based on the latest payment history, Rock knows that his utility bill never exceeds $ 200. So he sets the limit for the same amount and accepts the PullContract. Now, Stone is connected to the power grid and he does not have to worry about paying the utility bills anymore because it's automatic. This payment is an example of Repeat Fixed-Time Payments because the amount is deducted at once monthly

How does it work?

Several components come together to build the PumaPay payments protocol.
The PumaPay token will be the basic mode of payment on the platform.
An Account will be created to track token balance, PullContracts, and Limiters linked to an address.
Authorizers who decide whether a PullContract should pull or request money from an account.
PullContracts represents how payments will occur between accounts and enable the transfer of PumaPay tokens.
Limiters, which can be set by an account owner in order to set certain limitations on the account.
Apart from these, there are several other components such as off-chain components, PumaPay wallet etc. that work together to make the platform successful.

Allocation of Token

20% Public Contributors
20% Strategic partners and early users
35% Company
15% Advisors, gifts, bonuses, and fees
10% Founding Team
Use Continue

Results from TGE will be used for the development of our technology, integration with launch partners and early users, protocol adoption, and to cover all costs associated with TGE. 3% of sales proceeds will be stored as a liquidity pool.