NEW YORK – Pornhub is adding another option to the list of cryptocurrencies accepted by the popular porn platform: PumaPay (PMA), an open source blockchain-based billing protocol.
The PMA token will be accepted for all manner of Pornhub purchases, including for Pornhub Premium, the company’s on-demand streaming service, as well as advertising-related payments for TrafficJunky, Pornhub’s traffic and advertising network.
“Here at Pornhub, as one of the most viewed websites in the world with over 90 million daily visitors, it is our duty to stay at the forefront of innovation and ensure the privacy of our users. By accepting PumaPay, we are reaffirming our commitment to keeping current with our community’s growing payment preferences,” said Corey Price, VP, Pornhub. “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.”
PMA transactions “will allow for the flexible billing practices and scenarios popular within the adult entertainment industry, namely recurring payments and pay-per-use, while securing the anonymity of users, as well as the high speed and low cost of transactions,” the companies added in a joint statement issued this week.
PumaPay, which was developed by Cyprus-based blockchain company Decentralized Vision, reportedly raised $117 million in a private sale that ended in May.
“PumaPay’s technological solution, the PullPayment protocol, reverses the mechanics of a transaction, enabling merchants to ‘pull’ crypto funds from their customers’ account,” explained PumaPay CEO Yoav Dror. “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.”
Dror added that 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.”
Dror said the PumaPay Protocol supports payment practices that have been impossible on the blockchain to date, including recurring payments with fixed and variable amounts, as well as pay-per-use transactions
“Both payment scenarios are a perfect fit for adult entertainment, including the subscriptions for Pornhub Premium,” Dror added.
PumaPay has secured deals with other major adult companies as well, including Vivid Entertainment, which announced its collaboration with PumaPay in April.
For more information on PumaPay, go to PumaPay.io.
