PumaPay, a cryptocurrency payment and billing service provider, announced on November 1st that it has updated its blockchain-based network with the second version of its PullPayment protocol.
The new payment protocol has been released after PumaPay managed to raise $117 million through its initial coin offering (ICO) earlier this year. Notably, the company’s crowdfunding campaign is the seventh-largest ICO to date.
“Free Trial + Subscription” Payment Model Supported
PumaPay’s payment protocol allows users to “pull” crypto payments (instead of “pushing” them) through its “free-of-charge” platform. This means that a merchant, such as a paid subscription service, can directly “pull” payments from a user’s crypto wallet at the end of every billing cycle.
According to PumaPay, its transaction protocol can also support the “free trial + subscription model” – which only bills customers if they continue to use the company’s service after the free-of-cost trial period.
The latest version of the PullPayment protocol also supports the crypto service provider’s “single payment + subscription” option – which lets users make a discounted subscription payment for the first month and then pay the regular amount each month thereafter.
75 Companies Interested In Using PumaPay’s Services
At present, there are over 75 companies that are interested in using PumaPay’s services.
Yoav Dror, the CEO of Cyprus-based PumaPay, said:
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.
Notably, the launch of the second version of PumaPay’s payment protocol may be considered a positive development for a blockchain startup that experienced the second-largest loss in the value of its token (PMA token) out of all ICOs launched this year.
PMA Token Now Listed On IronX
PumaPay’s PMA token was also approved for listing yesterday on IronX, a Cyprus-based digital asset exchange. As CryptoGlobe reported in late October, IronX – which will use Cardano (ADA) as its base currency – raised $22.3 million via a private sale for the development of its crypto trading platform.
According to PumaPay’s official website, its native token is also available on Bittrex, Upbit, Coinbene, and HitBTC.
PumaPay’s cryptocurrency wallet also lets users make recurring payments via the Ethereum network. These transactions can be carried out using the PMA token, Ether (ETH), and all other ERC-20 compliant tokens.
