PumaPay, a blockchain payments system that provides an open-source “free-of-charge blockchain-based protocol” that decentralizes the transaction process, announced on Monday its cryptobilling solution, PullPayment Protocol, has been integrated by rent24, a global provider of coworking spaces. According to PumaPay, rent24 customers can now pay for their workspace invoices with PumaPay’s PMA token, through PumaPay’s mobile wallet app. PumaPay’s description of the Protocol reads:
“PumaPay’s Pullpayment Protocol was designed to offer an advanced solution to the problem of online payments, such as issues with excessive fees, credibility and inefficiency which are usually experienced with credit cards and even with digital coins such as Bitcoin. The protocol uses a new smart contract architecture known as the ‘PullContract’ which enables new ways of paying on the blockchain.”
PumaPay further explained that the integration enables rent24 to create recurring billing models, through the PumaPay Business Console, and charge customers on a monthly basis.
“The PullPayment Protocol provides flexibility for cryptopayments in everyday transactions by enabling multiple payment scenarios for businesses, such as subscriptions, top-ups, and other familiar billing methodologies that are common in everyday life, but until now were not possible on the blockchain.”
Speaking about the collaboration, Damian Leich, CPO of rent24, stated that he and his team believe that the PullPayment Protocol solution may make payment processes more efficient. He added:
“It’s clear there is a growing demand for cryptobilling, therefore rent24 wants to offer this additional option to its tenants as well.”