Solana Pay Adds Merchants Customized Transaction Requests

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

Developers and merchants can now submit transaction requests to SOL Pay, the first decentralized payments platform.

The transaction requests brings Solana transactions into the real world, enabling NFT minting, dynamic discounts, tokenized loyalty programs, and others. It can be done through an interactive request between a checkout app and a mobile wallet.

Solana Pay brings decentralized payments into Real World

Solana announced on its website that it is bringing transaction requests to the Solana Pay payment system for developers and merchants. As the demand for Solana-based NFT projects grows, it allows users to mint NFTs. Discounts and loyalty programs will also be added to the payment platform.

Customers can use Solana Pay to make transactions by scanning a merchant QR code, which causes the wallet to send an HTTP request to the merchant API. After obtaining the wallet address, the merchant creates a tailored transaction for the consumer. The customer then signs the transaction with their private key and sends it to the network for approval.

Transaction requests can be used for things like minting NFTs or transferring loyalty tokens. Refunds, chargebacks, insurance, buy-now-pay-later, discounts, rewards, and yield creation will all be possible with DeFi transactions. It may also enable retailers and brands to offer customers tokens, invitations, and presents.

The Phantom and Solflare crypto wallets are currently accepting transaction requests. The new feature will be supported by other wallets soon.

In order to promote blockchain-based payments and help customers make transaction requests, Solana Pay plans to demonstrate transaction requests live at the Atlas Cafe in San Francisco, California on May 5.

Solana Pay reshapes Payments Space

Solana Pay had witnessed massive adoption by merchants and customers. Until now, the platform allowed one-way transfers of SOL, USDC, NFTs, and other tokens for developers and merchants. The new features bring more functionalities to the platform, which could lead to the dominance of Solana Pay.

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