Visa Tests Support for Credit or Debit Card Payments for On-Chain Gas Fees in Fiat

Odaily Planet Daily News The payment giant Visa said on Thursday that it has completed the test of users using credit or debit cards to directly pay the gas fee on the chain with legal tender. The experiment was conducted on the Ethereum Goerli test network, using the payment master contract to pay Gas fees on behalf of users. This means users can send blockchain transactions without having to worry about maintaining balances in Ethereum. Visa believes the contract can make transactions more accessible to a wider range of users. The Visa technical team wrote, "Our experiments aim to provide a promising approach to substantially address the challenges of blockchain-based transactions. By leveraging the innovative concept of paymaster, combined with account abstraction and the ERC-4337 standard, we explores the potential of a process that could redefine blockchain-based transactions." Merchants or decentralized applications can run their own Paymaster solutions, or existing wallet and Paymaster service providers can offer card-based gas payment options in addition to other Paymaster products, Visa said. (Blockworks) According to previous reports, Visa recently published "Rethinking Digital Transactions with Account Abstraction". According to the article, in order to better understand the Ethereum account abstraction proposal ERC-4337, the Visa team has deployed two sets of experimental Visa Paymaster contracts on the Ethereum Goerli test network, showing how to redesign the gas fee on the blockchain to improve user experience. convenience.