PumaPay’s PullPayment Solution Launched on Mainnet, Enables Recurring Ethereum Payments

PumaPay in a press release announced that their version 2.0 launch of the Pullpayment Protocol solution in now on Mainnet. It’ll enable seamless cryptocurrency transactions between merchants and customers with advanced billing options.

After launching on Testnet last September, the protocol brings payments solution to recurring payments on the Ethereum network, allowing merchants to execute blockchain-based transactions.

About PumaPay’s PullPayment Solution Version 2.0

Version 2.0 aims to be the proof of concept for the PullPayment Smart Contract, which will eventually enable the full functionality of the PumaPay solution. Merchants will be able to bill their customers in cryptocurrencies, reduce costs on excessive card transaction fees, as well as avoid chargebacks and fines with all transactions on the blockchain being immutable.

It will also allow immediate transaction settlements for merchants eliminating the waiting period for the arrival of funds and cash flow issues.

Other than this, they will also support four very common billing models.

– Subscription: time-based fixed-amount recurring billing (monthly, biweekly, weekly etc), where the number of billing cycles, as well as their frequency, are determined by the merchant. For example, a Gym Membership.

– Free Trial Subscription: A delayed subscription where the payment cycle starts only after a predetermined free-trial period. For example, a one-week free trial followed by a monthly subscription.

– Single Payment Subscription: allows customers to pay an initial charge for a certain period, followed by a subscription. For example, $3 for the first week, followed by a $24 monthly subscription.

– Single Pull Transaction: offers a one-time PullPayment, suitable for most everyday purchases.

To go along with all this, users will pay no transaction fees with ensuring customer anonymity. Users will also have complete transaction control, as the PumaPay wallet gives users direct access to their subscriptions to make any changes free of charge and without third party involvement.

PumaPay Cryptocurrency wallet is available for both Android and iOS, supports recurring payments in PMA tokens and allows users to send, receive and store PMA, ETH and any ERC20 tokens from their phones.

The PMA token is already available on all major cryptocurrency exchanges including Bittrex, UpBit, HitBTC, CoinBene, and more.

PumaPay is also nearing its launch of the merchant portal which will be a one-stop-shop for merchants to register, set up their billing scenarios and pricing models, and start conveniently billing in PMA tokens.

Version 3 which is expected to the next-generation blockchain will release in and will include new features such as, wallet limiters, additional billing scenarios, and more.

Yoav Dror, CEO of PumaPay says:

“We’re always looking to improve and develop our solution to make it more valuable for both merchants and customers, and contribute to our community and the decentralized movement. With over 75 Early Adopters already committed to implementing the PullPayment Protocol, from online entertainment companies to Fintech companies, we expect more to onboard our solution, and believe that our latest version gives the additional layer of convenience merchants are looking for.”

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