PumaPay pull payment use cases- recurring payments
PumaPay allows a blockchain based payment mechanism that enables customers to select a fixed recurring subscription to any service, online or offline (streaming media, gym membership, magazine subscription, theatre subscription, dating websites, etc).
This model enables recurring processing of fixed payments in a manner that gives businesses the flexibility to determine the amount and fixed frequency of the transaction (daily, every several days, weekly, monthly, every three months, yearly, etc.) via parameterization of the contract upon deployment.
Bob has a passion for cryptography and security. As such he wants a subscription to National Cryptographic, the world's leading journal on everything security and blockchain. Since the National Cryptographic website uses PumaPay, Bob can easily subscribe.
First Bob can look at the subscription and use his PumaPay wallet to scan the QR code given to him at check out.
After scanning the QR code a YAML file will be displayed on his wallet explaining the terms of the PullContract and any of the details regarding the PullContract.
Once Bob accepts, the PullContract is committed to the blockchain, Bob is subscribed to National Cryptographic, and National Cryptographic is given permission to make PullRequests from Bob's account every month.
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