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Solana Pay latest development to make on-chain transactions available to all

Solana Pay launches its payments domain to make on-chain transactions available to all
TL;DR Breakdown
  • Solana Pay now offers merchants customized transaction request
  • Solana Pay receives support from other firms

Solana has been altering its payments domain for developers and vendors since it launched in August, and this method has introduced a large number of users to on-chain transactions during a brief but illustrious three months of operation.

Vendors have been sending NFTs, USDC, SOL, and other similar tokens in one direction to pay for goods, transactions, and other services at first. However, the firm has now stated that users who are unfamiliar with blockchain payments will be able to make these kinds of purchases as well.

The latest development of Solana Pay has addressed this need by bringing real-world Solana transactions into the realm. It will use an interactive request between a mobile wallet and the checkout app to provide viable discounts, NFT minting, tokenized loyalty programs, and other features.

Solana Pay includes comprehensive data requirements that aren’t available when sending a token on the network. This includes a standardized destination, currency, amount, transaction identifiers, and descriptive text fields to allow the merchant to verify that a transaction was completed. The actual information regarding transactions, such as who paid and what was bought, is not published on-chain.

This solution is currently available in the latest version of the Solana Pay mobile wallet. In order to use it, a user must select the “request” button when making a transaction and then choose their payment method. After that, they will be able to see all the options that are available to them.

Solana Pay receives support from other firms

This new creation is supported by Solana wallet phantoms and Solflare, according to the creators. In comparison, many other wallets have started working to support it. This will benefit from payment transparency, fewer fees, no third partisan and simpler purchase of Solana coins.

The network also displayed specific specs and Point of Sale configurations for developers. In addition, it explained the merchant integration guide, enabling a simplified process for merchants as well.

According to a post by Solana developers, a feature that went live on the protocol this week would help businesses and users with transaction requests.

Dennis Mugambi

Dennis Mugambi

Dennis is a content writer with a deep understanding of the blockchain domain and cryptocurrency field. He infuses cold data with flair to make technology and finances mind-blowing. His reports both fascinate and awaken the readers.

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