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PumaPay Payment System Serves as a Virtual Credit or Debit card.

Eseandre Mordi



The current mode of transferring money to businesses by end consumers is the card system. Credit, debit or pre-paid. The plastic cards offer users the ease of not carrying around cash all the time. Over the decades, the acceptance of the card and the two major networks, Visa and MasterCard, operate globally, allowing millions of users to pay with a simple swipe of the card.

Issues in Card Payment Systems

Yet, there are issues with the current technology that most people tend to ignore or have no other option, such as:

  • Intermediary Charges: Banks and other card issuing authorities charge a significant amount for their services.
  • Insecure: Cards payment systems, although upgraded over the time, are still a technology that is more than 6 decades old and not designed for online use. This makes it vulnerable to cyber attacks.
  • Frauds: Even with offline use, there are always frauds and risks of carrying it around as all the information is written on it and anyone with a visual access can use it online, without the need of cyber hacking or attack.

Replacing Cards for Good With PumaPay

The team behind the PumaPay concept realized that cryptocurrencies have all the right mix of properties that can replace the old age plastic card payment system. With a decentralized money, it will be extremely secure resistant to cyber attacks, no intermediary charges and best of all, without the oligopolistic nature due to the elimination of banks within the whole economy.

A further study revealed, however, a major problem in cryptocurrencies: They work on the push factor, where the sender pushes the money to another. In the card payment system, it is the opposite, where business owners pull money from consumer accounts. Having no current blockchain based service that could do that, PumaPay decided to build this from the ground up, the result is the PumaPay Pull Protocol.

Furthermore, the payment provider gives merchants the ability to easily integrate the service in their POS, allowing easy transferring of money from consumer to their wallets.

Tokening With PMA

The PumaPay system uses its internal ERC20 compliant PMA token. Currently, the token has completed its private sales in May. The token will be used by consumers to pay merchants, just like a virtual credit or debit card, finally allowing the online payment system to catch up with current technology.

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