Blockchain Payment Protocol Aims to End ‘Downsides’ of Online Payments
A crypto startup aims to attract customers away from using credit cards to pay for items both online and offline by introducing a Blockchain protocol that will make it easier to use cryptocurrencies instead.
PumaPay says Bitcoin and many of its rivals have failed to become mainstream payment methods because they lack scalability and flexibility – despite being launched almost a decade ago. This has made it difficult for cryptocurrency holders to use their funds without converting to old-fashioned tender first.
PumaPay is confident of changing the status quo because of how its protocol has been “designed from the ground up” to eliminate the current downsides of shopping online – including the fees which drive up the cost of everyday items and unauthorized transactions that create headaches for consumers and firms alike.
PumaPay’s PullPayment Protocol brings a fresh approach to payment processing by introducing a mechanism where shops, restaurants, and other businesses can pull money out of their client’s wallet – reversing the current practice of a consumer pushing their cash through a myriad of middlemen before it arrives in the merchant’s account many days after the transaction has been finalized.