Who is WalletConnect Pay for?
There are a couple of primary actors that can benefit from WalletConnect Pay:- Payment Service Providers (PSPs) and Acquirers - PSPs and Acquirers can use the POS (Point of Sale) SDK to integrate WalletConnect Pay into their existing payment stack. This allows them to offer their merchants and customers an option to accept crypto payments without changing how payments operate today.
- Merchants - PSPs and Acquirers can offer their merchants an option to accept crypto payments without changing how payments operate today.
- Wallets - Wallets can work closely with WalletConnect to provide a seamless payment experience for their users by integrating the WalletConnect Pay SDK into their wallet.
What would WalletConnect Pay look like in action?
WalletConnect Pay would live inside the POS device that a merchant uses to accept day-to-day payments. The flow would be as follows:- The merchant selects “Pay with Crypto” on the POS device.
- The POS device generates a WalletConnect QR with the payment intent.
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The customer scans the QR with their wallet:
- The wallet displays the payment intent.
- The customer picks the token and network of their choice (e.g., USDC on Ethereum) and approves the payment.
- The wallet builds the transaction and sends it to the network.
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Or alternatively, the customer scans the QR code with their QR scanner:
- This takes the customer to a payment gateway URL that is pre-filled with the payment intent.
- The customer can connect their wallet (using WalletConnect).
- The wallet displays the payment intent.
- The customer picks the token and network of their choice (e.g., USDC on Ethereum) and approves the payment.
- The wallet builds the transaction and sends it to the network.
- The POS device receives the transaction result and displays it to the customer.
- The merchant then receives fiat or crypto settlement from the PSP.