Solana Pay – A New Outlook Towards Merchant-Customer Payment Relationship

Solana promises to reshape the world of payment with the availability of transaction requests for merchants and developers. Solana said, “it’s now possible to bring any Solana transaction into the real world through an interactive request between a checkout app and a mobile wallet, enabling NFT minting, dynamic discounts, tokenized loyalty programs, and so much more”. Key points are as follows: Merchants can communicate with customers in a two-way manner. The feature helps merchants to provide customized transaction links to users. At the point of sales, they can mint NFT or transfer loyalty tokens Merchants can pay transaction fees on behalf of their customers so that they don’t need to have SOL in their wallets. Merchant can refuse to reply to a transaction request. It can be then used to allow permission requests. According to Solana, merchants and brands can create a dynamic experience that sends gifts to customers, tokens and invitations. In this article, we will explore what Solana pay is all about and how it promises to be ground-breaking. But before that, we need to understand what Solana is and how it works. What is Solana? Founded in the year 2017 by Anatoly Yakovenko, Solana is an open-source project that implements a new permissionless, high-performance blockchain. Unlike Ethereum, Solana is substantially faster in terms of transaction processing and has significantly cheaper transaction costs. Solana uses both pro...