NEW YORK — Pornhub announced today that it has struck a deal with blockchain-based billing protocol PumaPay to offer its PMA token.
The PumaPay token will now be accepted for all Pornhub purchases, including Pornhub Premium, the company’s HD streaming service, as well as advertising-related payments for TrafficJunky, Pornhub’s traffic and advertising network.
PumaPay, which was developed by Cyprus-based Decentralized Vision, raised $117 million in a private sale that ended in early May.
PumaPay CEO Yoav Dror said that transactions using the token allows for flexible billing practices and scenarios popular within the adult entertainment biz, namely recurring payments and pay-per-use, while securing the anonymity of users, as well as the high speed and low cost of transactions.
“PumaPay’s technological solution, the PullPayment protocol, reverses the mechanics of a transaction, enabling merchants to ‘pull’ crypto funds from their customers’ account,” Dror said. “This enables the flexibility of transactions that has been impossible over the blockchain up until now, hence merchants and customers had to rely on credit cards.
With PumaPay, merchants avoid the drawbacks of the current banking systems, such as high transaction costs, the insecurity of chargebacks (reverse transactions) and associated fines, and the lack of customer anonymity”
Corey Price, Pornhub’s vice president, said that the adult site always looks to innovation to grow interest in its brand and find new customers.
Price said: “As decentralized payment systems continue to grow in popularity, cryptocurrencies are especially viable in the adult entertainment industry because they incorporate more anonymity tools than traditional tender.”
“PMA is a solid addition to our growing arsenal of cryptocurrencies, and we’re excited for our fans to use them to purchase a myriad of things on our platform,” he said.
Check out a new promotional video on the PumaPay-Pornhub deal here.
