PumaPay Takes Corporate Expenses to the Blockchain

PumaPay brings multiple benefits to merchants and their clients alike. But that’s not it, our PullPayment protocol can also be invaluable when it comes to corporate environments and expenses, such as business travel.

Those of us who travel for work dread the moment when we come back to the office and need to claim our travel expenses, which often includes filling out a bulky form, which the accounting team will still have questions about. So, if you paid for a work lunch with business partners with YOUR OWN CARD, you still have to jump through the hoops to get your money back. Why doesn’t your employer just give you a corporate credit card, right? Well, employers have multiple reasons not to do that for regular employees, but don’t think that they aren’t annoyed with all those travel and corporate expense procedures too. With its restricted payment option, PumaPay has the solution that will work for employees and management alike.

Like a puma on the prowl

Developed around the smart features of the PullContract and the PMA token, PumaPay reverses the mechanics of crypto transactions. By doing so, not only does it reduce the time required by a crypto transaction to complete but it also allows users to keep their spending in check with the restricted payment scenario. Let’s see how it could work.

This is the story of Benjamin, who was sent on a business trip to Las Vegas. Benjamin was given access to a special PumaPay corporate wallet to cover all his travel expenses.

Benjamin was jumping with joy that finally he’d be traveling to, well, the city where we all want to “get lost” and spend screamingly crazy amounts of money in casino. For a split second, Benjamin thought he might as well do that and no one would notice. But – work first. Benjamin went on ahead and booked his round-trip flight and his hotel with his corporate PumaPay wallet. In both cases, his PumaPay transactions were completed within seconds. Each time, he went to the provider’s website and selected PumaPay as a payment option. A QR code linked to Benjamin’s contract was generated, and the payment went through smoothly with a simple QR code scanning.

So far, so good, the big day came, and Benjamin boarded the plane and off he flew to Vegas. From the airport, Benjamin went to the hotel to check in and prepare for the convention the next day.

Everything went exactly by the PumaPay book. Whenever Benjamin needed to travel locally or buy a sandwich, he scanned the QR code and got the product or service. So, in the evening he thought he could go a little wild after a busy day at the convention center and went to the casino. To his surprise, Benjamin could not even buy a soda there. The reason? Well, what he didn’t know was that the PumaPay wallet he was given access to was actually restricted.

PumaPay is a flexible blockchain-based payment solution that facilitates transactions that would otherwise be impossible over the blockchain, including restricted corporate payments. What Benjamin didn’t know is that his manager set a number of Limiters or restricting parameters on his corporate PumaPay wallet that would allow regular purchases such as breakfast, lunch, dinner or a trip by taxi from the hotel to the convention center, hotel and flight bookings but not “luxury” expenses such as a casino night. Bad luck, Benjamin!

In Benjamin’s case, his employer restricted his transactions based on the product type. However, flexible as it is, the PumaPay protocol supports any type of restricted payments over the blockchain, allowing product or amount-based Limiter set-ups, manual or transaction-based approvals (a particularly efficient option for stay-at-home moms who want to keep an eye on their children’s expenses) or automatic authorizations. PumaPay takes corporate payments to the blockchain.

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