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Solana Labs Unveils E-commerce Payment Protocol

ByLouis Adams

Feb 2, 2022 #Blockchain
Reading time: < 1 minute

Solana Labs has recently launched the Solana Pay protocol, which allows online merchants to accept cryptocurrency payments directly from consumers.

Thanks to this solution, merchants will be able to accept the stablecoin USDC, the SOL network native token and other Solana-based assets for a “penny” commission.

According to the statement, transactions will be instant and the funds will arrive “in real time.”

At the next stage of development, the protocol will provide merchants with a full-fledged two-way communication channel with buyers. Merchants will be able to send reward tokens, NFTs or promotional messages directly to the consumers’ wallets.

Solana Labs believes this will provide new marketing opportunities.