The Silicon Review
“We want to make crypto payments accessible to everyone through our solution, making PumaPay a household name like PayPal.”
Bitcoin was invented in 2008 and was quickly popularized among the public due to its ability to be ‘mined’ online. It can be exchanged for other currencies, products or services like other monetary transactions. However, there aren’t many banking solutions or institutions that allow for the use of bitcoin or any other cryptocurrency to be used to purchase items or pay for things. In light of the foregoing, we’re pleased to present PumaPay.
PumaPay is a cryptopayment system with its own means of managing cryptocurrencies through the PumaPay Mobile Wallet app. It makes flexible billing methods possible on the blockchain and is the first company to introduce recurring payments on the blockchain. Its advanced billing models enable flexible payment options over the blockchain for the first time. PumaPay’s system can be adapted to any business model.
PumaPay was founded in 2017 and is based in Limassol, Cyprus.
Yoav Dror: Interview Highlights
Can you brief us about the history of your company?
Established in 2017, PumaPay set out to reinvent everyday crypto payments through the development of its PullPayment Protocol solution. Then in May 2018, we became the 7th largest ICO in the world, raising a total of $117 million and gaining over 100 global early adopters in the process. From that point, we’ve continued the expansion of PumaPay, establishing ourselves as a global FinTech company with successful integrations of the PumaPay Protocol in brands around the world.
What were the biggest initial hurdles to building your business and how did you overcome them?
The whole process of taking that initial idea from my head and translating it into a usable, working product was the biggest hurdle. I found that the only way to solve this roadblock was to share a big vision with the team. This way everyone is focused and invested in the development of our final product. Every day we have new hurdles to overcome but we work towards solving them together as a team.
What would you say was the single most influential factor in your business’ success?
My team! Surrounding yourself with the right people is integral to the development of any business. As long as you all share the same vision and priorities, and are open to realigning these when necessary, it truly is a recipe for success. I am proud to say that the drive of the PumaPay team has significantly contributed to our success so far and I look forward to continuing this journey with them.
'It is difficult to start a venture. But far more difficult to maintain it.’ How would you and your team interpret this saying?
I’d say it's more like the opposite of this. Once you have established your business and it’s up and running, it’s easier to overcome hurdles as they appear. But often, it’s the transition from an initial, far-fetched business idea where most people falter.
What do you hope to accomplish in the long run?
Ultimately, the end goal is the mass adoption of the PumaPay PullPayment Protocol. We want to make crypto payments accessible to everyone through our solution, making PumaPay a household name like PayPal. We envision a future where you can pay for your favorite streaming services, send money to friends or even pay for your morning coffee through PumaPay’s blockchain-based payment solution.
What would you say are the top three skills needed to be a successful business/IT leader?
The most important skill is the ability to envision challenges from every level and focus on the minute details while keeping an eye on the big picture.
Also, it is important to speak with your team and to understand everyone’s motivations, skills, and capabilities so that you can delegate roles more efficiently. Most importantly, you must make your team cohesive. Bring everyone together so that you can all work towards the same vision and see the goal from their perspectives.
What is your greatest fear, and how do you manage fear?
My greatest fear is not being able to fulfill my dreams and personal ambitions. I have these big milestones mapped out and I don’t consider it an option to not achieve these goals. This is why I always try to have a workable plan in place, and also some sort of plan B to take any risks into account. I believe this planning is essential to achieving your goals, but I also consider it important to measure the progress made along the journey. This way you have the capacity to adjust and refocus your plan to keep that end goal always within reach.
What other leaders do you look up to, and why?
Andy Grove, former chairman and CEO of Intel, was legendary when it came to leadership in the tech industry. He tackled adversity from an early age and became renowned for transforming Intel’s revenue during his tenure. He truly revolutionized what it means to be a leader, combining both his analytical side with his compassionate one.
What are your future focus areas?
I would like to be involved in a business tech venture centered on fighting climate change. Technology has impacted so many aspects of our lives, so being involved in an innovative solution for the climate crisis or ocean pollution is important to me.
If you had one piece of advice to someone just starting, what would it be?
You need to remember that there are times when you have to stick to your truth and never give up, and times when you need to cut your losses. Being a successful leader is knowing how to differentiate between the two. Remember, it is easy to give up at the first obstacle.
Yoav Dror: A Visionary Leader
Yoav Dror is the CEO of PumaPay, the company revolutionizing everyday crypto payments through its comprehensive payment solution. With an MBA and over 20 years’ experience in heading high-transaction companies, Yoav has successfully led the PumaPay team from inception to the established FinTech company it is known as today.
“We envision a future where you can pay for your favorite streaming services, send money to friends or even pay for your morning coffee through PumaPay’sblockchain-based payment solution.”