Canadian pornographic video sharing website Pornhub has partnered with PumaPay, a cryptocurrency payment and billing solution provider, to facilitate recurring payments through cryptocurrency. From here on, Pornhub subscribers will be able to pay their premium subscription fees with crptocurrencies on a recurring basis using PumaPay’s platform.
A video released by the largest pornography site on the Internet indicates that users will be able to renew their premium membership plan using cryptocurrencies in the same manner a credit is used, without worrying about manually transferring payments every month.
PumaPay, an open source blockchain-based solution, was built by Decentralized Vision, a Cyprus-based company. Per the report, the “PullPayment protocol” developed by the company has made it possible for such kind of transactions to be completed on the blockchain.
Other than recurring payments, pay-per-use transactions are also facilitated by PumaPay.
@Pornhub partnered with @PumaPay #cryptohttps://t.co/Q5MrpLwpXP
— Francisco Memoria (@FranciscoMemor) August 24, 2018
PumaPay’s CEO Yoav Dror said
“PumaPay’s technological solution, the PullPayment protocol, reverses the mechanics of a transaction, enabling merchants to ‘pull’ crypto funds from their customers’ account.”
Yoav Dror further pointed out that the “drawbacks of the current baking system” are chargebacks, high transaction costs, and lack of anonymity. The partnership also opens doors for the acceptance of PumaPay’s (PMA) token as payment by PornHub.
As of now, PornHub website has integrated ZenCash (ZEN), Verge (XVG) and Tron (TRX) to its platform. Verge (XVG), as most of the crypto investor knows, was the first crypto to be integrated in PornHub’s payment platform. Verge raised as much as $3 million to secure the partnership with the website’s principal company MindGeek.
At that time, there were claims that the partnership is exclusive. However, it does not seem to be the case. Over time, Pornhub has added several cryptos to its payment platform. The addition of Tron to the payment platform was announced when the market was busy discussing about the latter’s acquisition of BitTorrent, a p2p file transfer protocol.
Notably Tube8 is another adult entertainment site, which is planning to offer Vice Industry Token (VIT) as rewards to its visitors. VRPorn.com is another notable porn site, which added Litecoin payments via GoCoin, a payment processor. The announcement came soon after PornHub-Verge partnership was announced.
