PumaPay, a blockchain-based payments company, announced on Wednesday that it is now allowing its cryptocurrency mobile wallet users to directly purchase digital assets from the app using debit and credit cards.
According to the press release shared with Finance Magnates, the company is expecting a mass adaptation of cryptocurrencies with this move.
PumaPay wallet users can purchase four major digital currencies – Bitcoin, Ether, Litecoin, and Bitcoin Cash – and then can convert them to the platform’s native PMA token to pay for goods and services with supported merchants.
Users of the PumaPay mobile wallet can now buy crypto directly from the app with a credit/debit card! 📲💳
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— PumaPay (@PumaPay) August 3, 2020
Commenting on the development, PumaPay CEO Yoav Dror said: “By making crypto purchasing easily attainable, our new launch is enhancing and improving upon the current accessibility of decentralized payments; paving the way towards mass crypto adoption.”
Making crypto payments a reality
Founded in 2017, the Cyprus-based company is targeting to disrupt the micro-payments industry with blockchain technology. Its PullPayment protocol provides a “free-of-charge” transaction platform that allows its users to “pull” rather than “push” cryptocurrency payments.
This will enable crypto recurring payments for any subscription-based platform, similar to any fiat-based subscriptions. The company made headlines when it’s crypto payment solution was integrated on the adult entertainment website Pornhub.
It is also boasting competitive cryptocurrency exchange rates, low transaction fees, complete transparency, and 100 percent privacy.
The company closed a $117 million initial coin offering (ICO) in 2018 when the market was at its peak. Its PMA token is listed on several major crypto exchanges including HitBTC, Coinbene, Bittrex, and OKEx.