Solana is bringing online transactions into the real world by enabling interactive transactions between a checkout app and a mobile wallet.
Moving Transactions Forward
Amidst Solana Pay’s growing popularity among merchants and developers, Solana has added Transaction Requests, a new feature for merchants to use.
Solana and Atlas Cafe recently hosted the Solana Pay X Atlas Cafe Takeover event on May 5. The event aimed to demonstrate the unique utility of blockchain-based payments. In another separate video from the event, Sheraz Shere, Head of Payments at Solana Labs, demonstrated using the new transaction requests feature to make payments via Solana pay:platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-3&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfX0%3D&frame=false&hideCard=false&hideThread=false&id=1522597374559981570&lang=en&origin=https%3A%2F%2Fwww.web3wire.news%2Fpost%2Fsolana-pay-added-transaction-request-feature-amid-growing-interest&sessionId=7a38cee3d384f0b29056e5d1aa641b04f407705a&theme=light&widgetsVersion=c8fe9736dd6fb%3A1649830956492&width=550px
The Solana Pay event at Atlas Cafe allowed customers to pay with USDC via Solana Pay, which generated an NFT reward token from Atlas that ensures a 20% discount on future purchases.
“When a customer buys something, it’s a vote of support. A merchant should reward that support with personalized offers, on-chain loyalty programs, and unique virtual goods to accompany physical purchases,” Solana says in an article. “The opportunities are limitless, but only if there’s a new approach to payments.”
Transactions Requests in Solana Play
Thus far, Solana Pay has relied on one-way transfers of SOL, USDC, Non-Fungible Tokens(NFTs), and other tokens. However, Solana is now making it possible to bring Solana transactions into the real world by enabling interactive requests between a checkout app and a mobile wallet. This new feature allows NFT minting, dynamic discounts, tokenized loyalty programs, etc. Let’s see how it works:
Customers scan a merchant QR code, which their wallet apps interpret as a Solana Pay transaction URL.
The wallet sends an HTTP request to the merchant API.
The merchant receives the wallet address and can handle the transaction.
Customers can see the transaction details in the wallet just like any other transaction and the merchant URL and icon.
Upon approval/declination of the transaction, the customer signs it with their private key and sends it to the network.
This feature is now available for developers and merchants. At the moment, Phantom and Solflare wallets offer transaction requests, with more wallets working on the technology. Learn more about the new feature in this article by Jordan Sexton from Solana.
It has long been essential for e-commerce businesses to accept payments digitally, but now that is expanding to all kinds of companies. Because very few people still carry cash, it is a hassle for them to be unable to pay via a digital mode, credit card, or debit card.
Solana seems to understand this situation when it comes to Decentralized Finance. For instance, over 130 competitors in the inaugural payments track of the recently concluded Solana Riptide hackathon used Solana Pay. Effortless payments will be a deciding factor in ensuring the mass acceptance of cryptocurrencies in the coming days.
Source : web3wire.news
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