PumaPay Business News: Onboarding
It’s that time we’ve all been waiting for. Our Business Console, our very own cryptocurrency payment and billing platform, is now being rigorously tested by businesses!
With our first three integrations underway and in the late stages of onboarding, setting up their cryptobilling and testing, we would like to share with you all the magic behind the scenes. It takes two to tango, and we couldn’t be more grateful for the amazing collaborative spirit we have encountered when working closely with our early adopters. But, let’s have a closer look at the onboarding process and what exactly it entails.
What is Onboarding?
Onboarding in the traditional sense is how a new hire is integrated into an organization. In the same way, we can consider our early adopters to be PumaPay’s ‘new hires.’ However, when we refer to the onboarding of our early adopters, we are referring specifically to the mechanism by which businesses are connected with the Business Console.
What are the Phases that we need to complete ahead of Onboarding?
1. Agreement Acceptance
All companies wanting to be part of our ever-growing ecosystem sign an agreement containing specific terms and conditions confirming their intent to adopt our cryptopayment solution.
2. KYC Process
A step-by-step verification process is vital to ensure compliance with AML (Anti-Money Laundering) legislation and Customer Due Diligence (CDD) requirements.
3. Business Console Walkthrough
Our structured walkthrough of the Business Console and currently available billing models helps PumaPay create a technical specification with the business to understand their unique business flows and billing requirements. It also provides us with business intelligence to further the development of existing and new future products.
To begin onboarding, businesses are given access to their Business Console Account. Using their own credentials for the first time, they can begin setting up their test environment. To do this, they need to access and review our API and Wiki documentation. These are the tools that will help them complete their processes smoothly.
As businesses may need time to familiarize themselves with the opportunities cryptobilling presents, PumaPay offers a ‘Testnet’ environment. This gives them time to ‘play’ with all the functionality of our product without ‘spending’ real crypto. It’s a safe place to explore prior to moving to the ‘Mainnet’ and real-time activity.
Business Best Practice Goals
The test environment allows businesses to create cryptobilling for their products and test the outcome on their back and front-end. This will help them gain a greater understanding of how our solution works and how it can be tailored to meet their needs.
Did You Also Know?
Your Treasury Wallet needs tokens. You can get ‘test PMA’ tokens for testing from the PumaPay Faucet which drip-feeds the tokens to you for testing purposes. You can also obtain ‘test ETH’ for your ETH Wallet from the ETH Faucet. You will need to see whether your test transactions have been submitted on the blockchain to complete the testing loop.
5. Small Scale Testing Phase
Before going live, you can test on a smaller scale what you have already done on a theoretical level in the Testnet network and see how it works now on the Main Ethereum Network, known as the Mainnet network.
6. Go Live
Once all testing stages have been completed, you will be ready to start accepting cryptopayments.
How Long Does It Take?
Testing with our first three early adopters has been mutually exciting and enlightening. As it goes with all new revolutionary and unique products, we have encountered unexpected issues that we have fixed. Our first businesses have been very generous with their time, more than willing to test, and most critically, to provide us with the all-important feedback loop that will allow us to hit the wider market with force.
We hope this gives you an insight into PumaPay’s Onboarding process. It is a process that requires time from both sides. We look forward to sharing more about our integrations soon.
Team PumaPay truly appreciates your support as we work on our product and connecting with forward-thinking businesses worldwide. Learn more about the PumaPay and our Ecosystem.