Whenever you scan a merchant’s QR code with the app’s QR code scanner accessible via a circle blue button on the bottom of the screen, you see a smart contract. Depending on what the merchant encoded there, you’ll see one of 4 types of the contract you need to review and Confirm:
- Single PullPayment
- Subscription PullPayment
- Single+Subscription PullPayment
- Top Up PullPayment
In this section we’ll explore each type smart contract.
Single PullPayment contract
In this type of contract you perform a one-time payment. You see:
- Product name and billing model name set by a merchant
- Value in a local currency set by a merchant
- The same value in shown in PMA – that’s how much exactly your account is going to be charged
Your options are to Confirm the contract, hitting the big blue button or Cancel, hitting the cross in the upper left corner.
Subscription PullPayment contract
Subscription PullPayment billing models are created for recurring payments, when you’re charged with certain sums according to a schedule, set by a merchant. You see the details of the subscription in the same manner as shown above, and have the same options – either Confirm or Cancel. In case your funds are insufficient, you’ll be offered to buy some PMAs in order to subscribe.
Single+Subscription PullPayment contract
This type of smart contract is different from a simple Subscription in a way that the initial payment is different from a sum you’re charged according to the schedule. Everything else, including your options, is the same.
Top Up PullPayment contract
Top Up PullPayment smart contract is created when a merchant wants to charge their customers as soon as the deposit they fund with an initial payment decreases to a certain sum. Let’s say you add 50 USD and each time your balance reaches 10 USD, you’re charged with 40 USD. All these rules are set by a merchant and you can review them before you Confirm or Cancel.
You’ve got one additional option though – you can change the total limit of funds pulled from your account you don’t want to exceed. By default you don’t have any limit.
All your contracts you’ve Confirmed and hence signed, can be reviewed later in the Contracts section.