Blockchain firm Decentralized Vision has launched the PumaPay Protocol, a single blockchain payment solution that unifies billing mechanisms for e-commerce, online services and traditional merchants.
The protocol is aimed to disrupt the online payments space, which revolves around credit cards and levies high commission fees ranging between 3% and 15%.
PumaPay Protocol supports pay per use, single payment, scheduled payments, and monthly subscriptions, which are presently left unexplored by existing cryptocurrencies.
At the same time, the solution also addresses security concerns by allowing users to cancel a purchase within a certain period after the transaction and get a partial or complete refund. It also enables users to control their wallet activities.
Decentralized Vision CEO Yoav Dror said: “PumaPay intends to solve the genuine problem of utilising cryptocurrency. Our easy to integrate open source solution, will provide a consumption outlet for the boiling crypto markets enabling vendors to harness cryptocurrency’s potential into their day to day billing mechanisms.”