Disruptive Technologies

PumaPay is a comprehensive, blockchain-based crypto payment solution. It allows businesses of any size and industry to easily accept cryptocurrency and enjoy the benefits emerging from the digital technology of the century. The company began as an innovative tech startup in 2017 to reinvent everyday crypto payments through the development of a PullPayment Protocol. Following the development of PullPayment technology, by May 2018, the PumaPay brand became the 7th largest ICO in the world. In September 2019, PumaPay carried this momentum and fulfilled the Whitepaper, delivering the PullPayment Protocol. Since then, the company is tirelessly working on improving the products, adding more features and services and to help the early adopters to integrate with the PumaPay solution.  

In committing to refining the solution, PumaPay is managing to exceed all expectations. The company has gone as far as to develop the tools needed to successfully bridge the gap between crypto and traditional finance. Today, in making such advancements accessible, PumaPay is providing clients, both merchants and end-users alike, with an unexampled, comprehensive payment solution that mitigates concerns regarding onboarding and offboarding to and from crypto. 

 

A Comprehensive Crypto Payment Solution  

PumaPay’s ultimate vision is mass crypto adoption. The company believes that technology is the future of modern finances with numerous benefits that the wider population is yet to explore. To help the broader community to become active in the crypto market, PumaPay ensures that its payment solution is not only easy to use but offers maximum utility to all, from integrated merchants of any variety to the average end-user.  

Merchants integrated with the PumaPay payment gateway have access to the Business Console platform where they can easily control, monitor and manage all their payments. PumaPay’s PullPayment Protocol is a unique innovation that brings billing flexibility to the blockchain, enabling advanced billing methods for the first time, such as recurring billing, one-click payments and many more. Essentially, PumaPay Billing Models adapt according to the specific needs of a merchant, giving them maximum flexibility. At PumaPay, integration is not only completely free of charge but also quick and easy, giving merchants the ability to start accepting crypto within a matter of hours. Further, in partnership with advanced liquidity provider, Kemix, the company provides merchants with a Fiat Settlement layer. This service allows PumaPay merchants to freeze the PMA token rate at the point of transaction to eliminate the risks of crypto volatility. The Fiat Settlement facilitates easy crypto-to-fiat conversions, allowing funds to be transferred directly to their bank account, in a fiat currency of their choice without the hassle of dealing with tiresome exchanges.  

The PumaPay Mobile Wallet app is a key product for end-users. It is one of the most advanced mobile wallets available in app stores today with a sleek design and great UX. The PumaPay Mobile Wallet app is the only crypto wallet that supports subscriptions with other advanced billing models. It also allows customers to store, send, exchange and receive the top currencies: BTC, ETH, LTC, BCH, XRP, XML and any ERC20 token. In addition, the PumaPay Mobile wallet provides users with the ability to purchase cryptocurrencies with a credit/debit card from directly within the app.  

In offering the Business Console and mobile wallet, PumaPay offers an advanced crypto payment solution that provides maximum utility for all. With the combined features of “Buy Crypto,” in-app exchange and the Fiat Settlement Layer, PumaPay provides users with a hybrid payment solution that – in minimizing the gap between crypto and traditional finance – “closes the loop” to enable easy onboarding and offboarding to and from crypto.  

  

An Inspiring Leader 

Yoav Dror, the CEO of PumaPay, has successfully led the company from its inception to the established FinTech company PumaPay is now. He holds an MBA and has over 20 years of experience in heading online, high-transaction companies. 

Yoav has guided the company in the right direction, encouraging innovative ideas and motivating the members of the PumaPay team. Over the course of the last few years, Yoav has been extremely active in the crypto community. His opinions regarding the applications of blockchain technology and the roadblocks to mass crypto adoption are well recognized and have been published in a variety of main industry publications.  

 

Leveraging Blockchain to Disrupt Payments  

PumaPay’s disruptive innovation is achieved by utilizing blockchain technology. Blockchain technology is still new to most of the population but holds major potential in the field of finance. Through PumaPay’s PullPayment Protocol, the company wants to bring a greater degree of flexibility to the technology in order to maximize the potential benefits for merchants and customers. 

The PumaPay PullPayment Protocol takes the traditional ‘push’ mechanism of the customer sending funds to the merchant and completely inverses it, enabling the merchant to ‘pull’ the funds from the customer’s account (based on pre-approved terms). Through this, PumaPay was able to expand the billing methods available over the blockchain, becoming the first company in the world to provide blockchain-based subscription payments in 2018. 

 

Driving Innovation through Strategic Partnerships 

PumaPay is a proud member of the Enterprise Ethereum Alliance (EEA) and is honoured to chair the Financial Services Special Interest Group (SIG) that plays an important role in developing billing and payment taxonomy, driving the harmonization, and interoperability of blockchain specifications worldwide.  

PumaPay is also a founding member of the University of Nicosia’s Institute for the Future (IFF), a research centre working to expand blockchain and AI knowledge. PumaPay is driven by innovation and is pleased to partner with organizations that share the same mindset.  

 

Providing Privacy and Security to Customers 

Yoav believes blockchain is one of the technologies disrupting innovation by essentially eliminating the need for third parties. Through decentralization, blockchain also offers privacy and security for financial transactions. PumaPay works to ensure that this remains true for clients by offering a state-of-the-art, AML compliant onboarding process for the mobile wallet app. This helps the company ensure that users can verify their identity without sacrificing their privacy and the details of their transactions. 

Addressing Market Challenges  

PumaPay faces two primary challenges; educating the broader community about blockchain technology and mitigating the risks associated with volatility.  

Firstly, regarding education, PumaPay believes that both businesses and individuals still do not understand the benefits of advanced technology and the impact it can have on their finances. Above all, PumaPay wants people to understand that the most fundamental fact about crypto is that crypto holders are in full control of their funds. With blockchain technology offering a decentralized mechanism for overseeing personal finances, crypto holders do not have to worry about third-party (I.e. banks, credit card companies etc.) interference. For a crypto holder, concerns regarding being denied access to their funds is a foreign concept. Further, cryptocurrencies are arguably safer than any other form of money. The technology has existed for over a decade, and no single blockchain has ever been hacked. Transactions over the blockchain are immutable. Theoretically speaking, only quantum computing (which is yet to be developed) poses a threat to blockchains.  

Volatility, on the other hand, is not something any company can control. It is  a byproduct of lack of mass adoption (the Entire market cap of all cryptocurrencies is merely 2.5% of the NASDAQ market cap) which is a consequence of lack of education and a non-supportive regulatory environment. To mitigate its negative effects, in addition to educating users and advocating for proper regulation, PumaPay utilises the Fiat Settlement Layer. This mechanism freezes the rate for the customer when they purchase PMA, allowing them to keep the fiat value of what they purchased until they make a transaction. For merchants, this eliminates volatility risk and guarantees they will receive the fiat value of their services. 

 

The Future of Cryptocurrencies  

PumaPay can see an increase in global cryptocurrency adoption soon. The company wants to contribute to the creation of a future where the majority of the population can easily access their digital assets in a way that’s convenient and familiar to them. In the hope of making this happen, PumaPay continues to work on further elevating the solution, improving on its usability and the benefits it offers to its users. A few projects the company is currently looking at for the future include: 

  • The development of a Sidechain to improve user experience and reduce transaction fees  
  • The introduction of a new token that will hopefully be available for purchase by US-based clients in accordance with governmental restrictions
  • A staking service that will enable PMA holders to earn money 

Following the rollout of these developments, the community should hopefully expect a refined, flexible solution that addresses all their crypto payment needs.