Why SolanaPay and Role of PocketPay
The SolanaPay decentralized payment system is one of the hottest topics of the day, attracting hundreds of new offline and online vendors since its inception. Let’s see how it’s impacting.
Solana recently launched an official payment gateway that is going to be used in offline retail chains as POS systems and online eCommerce websites as payment gateways. Solana describes it as the fastest, most efficient payment solution of the current generation on the blockchain.
Solana Pay is an open protocol for developers with standardized payment specifications to build on and customize, meaning merchants can connect directly or use software built by ecommerce providers, point-of-sale software-makers, or payments companies.
Solana Pay is a new communication channel for merchants and consumer wallets using the Solana blockchain. Solana pay makes the payment easy for merchants worldwide to accept Solana SPL tokens for a small fee and without any intermediaries.
Merchants can add personalized offers for customers, allowing merchants to accept crypto payments and incentivize new business models. In addition to standardized destination and currency, amount, transactions identifiers, and descriptive text fields, Solana Pay provides rich data specifications that enable the merchant to track when and how a transaction was completed. The details of the transaction, such as who paid and what was purchased, are not publicly visible on-chain.
Solana Pay has a reference feature. With the reference feature, users can add a third person’s contact information while making a transaction, and the tagged person can see the whole transaction on their phone.
Just like any other payment channel, Solana Pay has a memo feature that allows users to add labels or small notes along with the transactions for remembrance.
Solana Pay is a payment method that requires wallets to be compatible with Solana Pay, so users must scan a QR code to make payments, and it has a standard that is built into the wallet. As it is new, most existing wallets have not yet adopted it.
Phantom is the only solution that works, and it is only available on iOS; Android does not support it yet. Meanwhile, PocketPay is available for both Android and iOS.
SolanaPay has been seamlessly integrated into PocketPay’s Wallets, working great on SolanaPOS.
Check out the attached video below for a guide for app testing and functionality. 👇
Whitepaper and Devnet are available for private access only. Please email at email@example.com
PocketPay also offers the EasyPay section, which is one of the best ways for offline and online merchants to market and sell their products. PocketPay’s EasyPay uses a blockchain wallet account to send/receive payments. It offers a business account creation interface that allows customers to pay with a QR code for both iOS and Android mobile Apps.
You can read about PocketPay EasyPay in detail here https://medium.com/pocketpay/pocketpay-easy-and-quick-transactions-63c979a79b61
Along with that, Launchpad is a promising new initiative from PocketPay that will help startups and individuals with great products launch on EasyPay Startup Launchpad. Stay tuned for PocketPay Launchpad.
In addition, EasyPay and Startup Launchpad will be compatible with SolanaPay, and SolanaPay will serve as the primary payment method for the platform and its users.
PocketPay is a Solana chain-based mobile wallet compatible with the recently introduced SolanaPay, a fast and secured payment /gateway method on Solana blockchain. Our wallet works both on Sol and SPL-based assets.
Apart from SolanaPay, the wallet allows storing NFTs, Swapping, marketplace, Dapps, and staking. The main feature that makes PocketPay different from other available wallets is the EasyPay features, enabling merchants to create dedicated accounts to accept payment offline and maintain and see the transaction in BI reports.
With Easy Pay, we’re also developing a Pocket Launch program dedicated to launching startups on our app. The new startups with innovative ideas and merchandise will host their services/products on our apps to represent the market.