Website Builder Service ‘Wix’ Announces PumaPay Cryptocurrency Payment Option

PumaPay has announced its partnership with Wix, the website creation and hosting platform. Based on the partnership, the PumaPay cryptocurrency (PMA) becomes one of the payment options on the platform.

Wix Adds PumaPay Cryptocurrency

PumaPay which is fast becoming a cryptocurrency payment staple in the adult entertainment industry has added a new client, Wix. The announcement is yet another example of the ever-increasing utility of virtual currencies in several aspects of ecommerce.  According to Venture beat, Wix users now have the option to pay for their website creation and hosting using PumaPay. Online merchants can also take advantage of the cryptocurrency’s PullPayment Protocol as a billing method thus allowing them to accept PMA tokens on their Wix websites.

Commenting on the development, Yoav Dror, the CEO of PumaPay said:

All components of the PumaPay solution are being developed with our clients’ convenience in mind. We strive to make the integration process as smooth and easy as possible. PumaPay’s SDK and API are easy to integrate and very flexible, allowing the adopters to tailor the billing solution according to their unique needs.

There are still a few details that require hashing out before a full rollout of the Wix – PumaPay integration. One of the critical issues is the expected number of Wix users that will adopt the new cryptocurrency payment option. PumaPay for its part is developing a robust operating framework that can efficiently handle the anticipated transaction volume.

According to Dror:

We cannot provide any estimations with regards to the volume from Wix sites. We believe that such integration will create significant volume and are working hard to ensure the best possible efficiency of the PumaPay solution for all of our early adopters and their clients.

About PumaPay

PumaPay, a Cyprus-based blockchain startup completed its ICO earlier in the year, raising $117 million in the process. The company’s PullPayment protocol provides a framework for instant microtransactions at reasonably low fees.

Apart from one-time transactions, PumaPay has its sights on becoming the de facto cryptocurrency for recurring payments of variable or fixed amounts as well as split payments, and pay-per-use among others.

According to Dror, the company is working on the release of an updated version of the PullPayment solution. This new version is expected to facilitate recurring payments on the Ethereum network.

What do you think about Wix accepting PumaPay cryptocurrency payments? Let us know your views in the comment section below.

Image courtesy of and ShutterStock

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Interview: Michael Dunworth, CEO of Money Transfer Service Wyre, on MakerDAO Partnership

interview wyre ceo

On Tuesday, U.S. international wire transfer startup Wyre announced a strategic partnership with MakerDAO. We’ve written about Wyre several times in the past: first when they raised a $5.8 million Series A led by Chinese firm Amphora Capital. The firm went on to acquire Bejing-based Remsity as they took on China. At the time — April 2017 — we reported that they were processing $50 million a month, but Mr. Dunworth had predicted transactions would scale up to $70-75 million per month in the aftermath of the acquisition.

The agreement with MakerDAO will allow instantaneous movement of “fiat currency directly into and out of Dai”. Dai is a stablecoin governed by Maker (of the MakerDAO project). So the implication here is users will be able to transfer international currencies directly into Dai. This was actually something that was discussed in an abstract in a recent interview we did with MakerDAO CEO Rune Christensen.

In the interview, we briefly discussed what Wyre was and how it came about. It turns out Michael and his co-founder were originally working on a company called snapCard that allowed users to buy items on multiple sites with a unified checkout process. The site went on to accept bitcoin and experienced rapid growth, but recognized the opportunity to build a product around international wire transfers since it was something they were doing for international customers anyway.

We went on to discuss the implications of the partnership and Wyre’s relationship with MakerDAO, which appears to have been going on for a long time with Wyre as an investor in the project. The use case for Dai in Wyre was laid out as such: normally wire transfers Wyre gets from clients (who are using Wyre to maintain liquidity through over the counter transactions) take 48 hours. With Dai, they can be instant. This benefits Wyre because it dramatically reduces their capital outlay; it benefits the client since they get quicker access to the liquidity that Wyre requires. It also dramatically reduces the potential for phishing created by traditional wire transfers, something which costs Americans an estimated $500 million per year.

Overall, this partnership is a huge step forward for stablecoins as a whole, and MakerDAO especially. Wyre has become a major player in the international wire transfer business and if they are able to grow alongside the cryptocurrency market they will gain a huge advantage over the competition.

The timing couldn’t be better for MakerDAO as speculation around controversial stablecoin Tether continues to heat up, with the company’s latest issuance of another $50 million worth of USDT. As we discussed in our interview with MakerDAO, Tether’s opponents have some very real points that a recent audit hasn’t entirely alleviated. Either way, analysts will be watching MakerDAO’s price closely in the coming weeks and months.

Note: This interview is part of the CCN Podcast. The podcast and this interview are also available on iTunesTuneInStitcherGoogle Play MusicSpotify, Soundcloud, Youtube or wherever you get your podcasts.

Featured Image from Shutterstock

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Cryptocurrency Mining Still Available on Google Play Store Despite Recent Ban

Despite the recent ban on cryptocurrency mining apps by Google on its Play Store, there are still reports of such apps available for download on the platform.

Mining Apps Still Available for Download

In July, Google released an updated policy document within which contained its decision to ban cryptocurrency mining apps from the Play Store. The move came shortly after Apple made a similar decision. At the time, Google made it clear that they wouldn’t allow mobile apps that mine virtual currencies but they would permit the one that manages cloud crypto mining activities.

However, despite this ban, an investigation carried out by The Next Web (TNW) revealed that there were still a few such apps on the Play Store. According to TNW, one such app, JSEcoin, developed by a British startup was able to publish its mining app on the platform. The app contained features that allowed both remote and direct mobile phone mining capability, the latter of which is a direct contravention of Google’s updated policy.

Speaking to TNW on the matter, John Sim, the Chief Technology Officer (CTO) of the company said:

We have additionally reached out to the Google Support team to confirm if we are allowed to allow our users to mine our tokens via our official app – as we are aware of their restriction policy.

At press time, JSEcoin is no longer available on the Play Store. According to the company, it received an email from Google informing them that their app violated its policies, hence the termination of the listing. Sim told TNW that his firm plans to follow up with Google on the matter but has since published an updated version of its app but without any direct mining functionality.

30-Day Grace Period

Apart from JSEcoin, other mining apps are still up on the Play Store platform. Some of the cryptocurrency mining apps still live on Play Store include MinerGate, Bitcoin Miner, Free BCH Miner, and NeoNeonMiner. A few of these apps have been on the online store for more than a year.

According to Google, the reason for the presence of these apps is because the company has a 30-day grace period. App developers and publishers have 30 days to adhere to a policy change.

What do you think about the presence of these cryptocurrency mining apps on the Play Store despite the ban by Google? Let us know your views in the comment section below.

Image courtesy of Google Play Store

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