Worried about the way your children spend their money? Wish you could prevent them from buying fast food and unhealthy snacks after school? You're not alone. And guess what... Crypto payments can help you.
*Wait... what? *
Yes, we know: having the words 'crypto' and 'children' in the same sentence might seem strange. But with PumaPay, it will all make sense in a moment. Our new PumaPay PullPayment protocol supports "restricted payments", where you can either put a limit on the spending amount of a connected wallet, prevent someone from making purchases of a certain kind, or approve each transaction manually. Here's how it could work.
Imagine that you have a child, let's call him Johnny. Johnny is a smart yet naughty boy who chooses to spend his lunch money on games, sweets, or, in fact anything rather than the proper lunch at his school canteen. We've all been there, haven't we? As more and more businesses will be adopting PumaPay PullPayment protocol in the coming years, so might Johnny's school. You will set up a PMA wallet for Johnny and connect it directly to yours.
To make sure that Johnny doesn't spend all his dough on sweets, you set up a few Limiters on his PumaPay wallet. These are certain parameters, which block Johnny's transactions if they do not match your criteria.
Every time Johnny attempts to make a purchase, a QR code with the purchase details and price is generated. Johnny scans the code using his PumaPay mobile wallet. Immediately, you receive the notification with all the product details and the equivalent PMA-value of the actual price of that product in your local currency. If you are happy with all the details, you approve the transaction and Johnny receives a smiley face, which signals Johnny that funds are being transferred from his PumaPay wallet to the merchant's account. If the transaction does not meet your requirements, you reject it and Johnny gets a sad face knowing that he should have made a better decision.
Too busy to control all your kid's purchases in real time? All you have to do is set up automatic approval or product-based Limiters on your child's wallet. This is the easiest way to control your kids' spending and, ultimately, their wellbeing. From here, your parenting opportunities may be limitless: from teaching your children to make better snack choices to introducing them to budgeting and responsible spending of their pocket money as they become older, PumaPay PullPayment protocol offers endless possibilities.
'Sounds good in theory, but when will it actually happen?' you might ask. Sooner than you think! Our ICO is just weeks away, starting on March 22 and from there on, we have a packed development schedule. Multiple merchants have already committed to
implement our payment protocol, and our ultimate goal is to have PumaPay as the number one payment method for everyone, everywhere. With the blockchain revolution that's been happening lately, this plan is realistic, so introducing children to crypto payments in general and PumaPay in particular, is not a crazy idea anymore, is it?
Learn more about PumaPay and be sure to join our Telegram group to stay on top of the latest updates.
Subscribe to PumaPay
Get the latest posts delivered right to your inbox