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Solana Pay Adds Customized Transaction Requests for Merchants
Pay previously allowed only one-way transfers of Solana-supported assets between users.
Solana Pay will facilitate transaction requests between merchants and users with a feature that went live on the platform this week, according to a post by Solana developers.
1/ Solana Pay takes another leap forward with transaction requests — enabling 2-way interactions between merchants and consumers: https://t.co/pQ9ovmFukh 🧵 #SolanaPay
— Solana (@solana) May 4, 2022
STORY CONTINUES BELOW
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- Developers added the transaction request feature to allow merchants to provide customized transaction links to users, such as unique non-fungible tokens (NFTs) or virtual gifts.
- The merchant receives the wallet address in the request and can respond with a customized transaction for the customer. This means any Solana transaction would allow interactive requests between a checkout app and a mobile wallet.
- “Merchants and brands can create dynamic experiences that send tokens, invitations and gifts to customers,” the post reads. They could range from the minting of unique NFTs, customized discounts and tokenized loyalty programs.
- Merchants can decline to respond to a transaction request, which could be used to allow permissioned payments, such as in cases where authentication is required.
- The Pay product previously allowed only one-way transfers between users, such as those of Solana’s SOL, USD Coin (USDC), NFTs and other supported tokens.
- Solana wallets Phantom and Solflare support the new feature, developers said.
- SOL's price jumped 9% in the past 24 hours, CoinGecko data shows. The tokens outperformed the market as bitcoin and ether rose 5% on average.
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
