11 Aug 2023

Ethereum gas fees? Charge it, please! Visa proposes to let you pay with card

Visa has wrapped up testing a way for users to pay on-chain gas fees directly in fiat with a credit or debit card, the payments giant said on Thursday. The experiment, which was conducted on the Ethereum Goerli testnet, uses a paymaster contract to sponsor gas fees on behalf of users, according to a statement. It means users can send blockchain transactions without having to worry about maintaining a balance of ether. Visa believes the contract could make transactions more accessible to a wider range of users. “Our experiment aims to offer a promising approach to substantially addressing the challenges of blockchain-based transactions,” Visa’s technical team wrote. “By leveraging the innovative concept of a paymaster, in conjunction with account abstraction and the ERC-4337 standard, we explored the potential for a process that could redefine blockchain-based transactions.”

Source: Blockworks

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