Cryptocurrencies were designed for direct transfer of value between two parties, without having to go through intermediaries (P2P). It was only possible to perform one simple, basic type of transaction – ‘push’. While this may be enough as a POC for cryptocurrencies, it is definitely not enough in order to make them a widely used means of payment as it does not address the requirements of modern commerce and the payment models the customers are used to.


At the heart of our protocol, we have designed a unique architecture of PullPayment smart contracts that inverses the mechanics of common cryptocurrency transactions. Instead of having side A ‘send’ or ‘push’ tokens to side B, it allows side B to connect to side A’s account (public address) via a PullContract and ‘pull’ funds into its account. This is of course subject to predefined terms and prior acceptance of the transaction by side A.

PumaPay PullPayment Protocol is being designed from the ground up to specifically address this issue and to facilitate flexibility in transaction mechanics. The innovative PullPayment architecture will open the door to a whole universe of payment mechanisms that are very common in our daily lives, but are either impossible to date or practically unfeasible over the blockchain such as recurring payments, direct debit, pay-per-use, etc. In fact, the protocol is intended to be so powerful and flexible, that it will enable any merchant to design their own transactions and implement their own business logic.


Utilizing the Core functionality the connection is established between the PumaPay Platforms’ modules to bring the protocol into action. 

The first version of our protocol has a semi-decentralized approach in order to reduce the gas fees that are involved with setting the PMA/Fiat rates on the blockchain and eliminate the customers’ gas fees for registering and cancelling PullPayments, which are currently taken care of by PumaPay through the smart contract.

In order for the smart contract to operate correctly, it requires that the smart contract holds enough ETH to be used for funding the owners’ address and the executors. The smart contract will be monitored and once its balance drops below 2 ETH the executor will be notified to fund it with more ETH to perform smooth and uninterrupted execution of the PullPayments.

PumaPay Pull Payment

An example of the available APIs that the merchants will have in their disposal after setting up their backend server can be found in the Billing Models section

A merchant can create and manage their billing models within their system. That can be done through the onboarding and use of the PumaPay Business Console to interact with the PumaPay Server.

Was this article helpful to you?

Leave a Reply