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PumaPay – Next Generation Payment Services on Blockchain

Following the ultra-successful Token Generation Event in Q2, there is a lot to look forward to for investors and users of the PumaPay platform. The roadmap for Q3 features some big milestones. Some are more evolved versions of the technology PumaPay has already released and others are totally new concepts that are set to radically change how merchants manage their payments.

  • Next generation blockchain

PumaPay is designing an evolved blockchain that will use both on-chain and off-chain components. The off-chain components will be of interest to technically minded crypto-enthusiasts as they have been put forward as a solution to the scaling problem, as we have seen with Bitcoin and the Lightning Network. A successful implementation here might mean a revival in interest for the Lightning Network, which has suffered a series of setbacks in the last few months. PumaPay’s whitepaper featured a case study of how it will be used and, considering the technical strengths of the development team, its implementation should be a big leap forward for off-chain solutions.

  • PumaPay Wallet V2.0

The initial version of the PumaPay cryptocurrency wallet is now available for Android and iOS. Q3 will bring the release of version 2.0, which will feature Pull Contract capabilities for the first time. The V1.0 wallet is well designed and can hold its own with similar products. However, PumaPay’s USP is its PullPayment protocol so that really needs to be implemented before the PMA wallet is a realistic choice for most users. The planned V2.0 wallet will give crypto users access to payment solutions like direct debit and pay as you go, previously only available through fiat banking. Most importantly, PumaPay already has a large number of partners onboard so there will be places to use this technology straight away.

  • Software Development Kit II

While the V2.0 wallet will take care of the customers’ needs, PumaPay is also considering what developers need to implement and integrate the PullPayment protocol. A basic version of their SDK was part of the plan for Q2, but a more advanced offering will be released in Q3. The SDK II will provide developers with all the tools they need to integrate PumaPay’s protocol into sites and applications, as well as create third-party extension services. This will give real versatility to the protocol, allowing it to be used in an infinite number of ways and across any kind of platform.

  • PullContract Wizard

The PullContract Wizard is the core of what PumaPay are trying to achieve. While presenting customers with an easy to use interface like the wallet is important and creating tools for developers is highly desirable, it is critical to the success of PumaPay that they make it easily accessible for the initiators of all pull transactions, the merchant. The PullContract Wizard is planned to include a host of familiar options for payments, like recurring monthly subscriptions, in addition to the facility to create custom and complex payment schemes. The merchant will be in a position to create a bespoke solution for each and every customer if the need arises, meaning more sales closed and a healthier bottom line.

It will be interesting to see just how far PumaPay progress on their roadmap in Q3. They have some serious funds behind them since their Token Generation Event and a lot of momentum following their successes last quarter, so more of the same is expected over the next three months.