Blockchain firm PumaPay held a token sale for private investors, which concluded on May 9. PumaPay is a platform that enables merchants and online sellers to accept cryptocurrency payments just like they would a credit or debit card. The Israel and Cyprus-based project now has a circulating supply of 78,042,956,829 PMA tokens. This comes in combination with the company’s recent announcement that over 40 companies have signed up as customers, which combined manage $10 billion worth of transactions each year.
The Benefits of Credit Cards With Crypto-level Oversight
PumaPay envisages its offering to be a link that, as of now, is missing in the crypto domain: customer and e-commerce-oriented payments. While cryptocurrencies might be practical for individual and ad hoc payments, compared to credit cards, they provide far less functionality. For example, credit cards offer essential instruments such as recurring billing, restricted and split payments, and pay-per-use payments.
PumaPay is aiming to provide these functions without the pitfalls of credit cards, which include lack of anonymity and chargeback fraud risk. For these reasons, one of PumaPay’s target markets is the adult industry.
Funding for Future Plans
CEO Yoav Shror was enthusiastic about the rollout of the company’s roadmap. He said:
“It gives us the resource to expand our ecosystem, bringing more companies to adapt the protocol at this early stage.”
“This great achievement will help us finish the development of our PullPayment Protocol, PumaPay wallets, the PumaPay Pride, and other innovative components to achieve our vision and values. It gives us the resource to expand our ecosystem, bringing more companies to adapt the protocol at this early stage. I would like to thank all our contributors for their trust and support. It is also a great honor to have so many companies to have committed to adapt the Protocol from the onset, introducing PMA as a payment method and creating a strong foundation for the PumaPay economy.”