Just checked their site and I think (Not sure) it's mainly a payment channel for merchants. I hope that they can expand so that non-merchants can use their low fee service like Paypal and Bitpay.
Paybear is planning to implement a wallet system by the Q2 of 2018 as they are also planning to launch an ICO for their own cryptocurrency.
I'd like to know if this new cryptocurrency is the DAI coin they announced a couple weeks back? I think it's not a good coin for trading since it maintains 1:1 value against the dollar, but it's definitely great for payments.