Visa Pilots Innovative Approach for Paying On-Chain Gas Fees with Visa Card

Visa is working on a solution to eliminate the need for users to hold ETH merely for paying gas fees.

American payment goliath Visa is exploring ways to facilitate payment of on-chain gas fees through the use of a Visa card.

The company is experimenting with an option to enable users to pay their on-chain gas fees directly in fiat money through card payments, thereby simplifying blockchain transactions.Under Visa’s scenario, users may no longer need to hold native tokens specific to a blockchain exclusively to cover gas fees. This resolution would leverage Ethereum’s ERC-4337 standard and a ‘Paymaster’ contract, allowing customers to utilize a Visa card for the direct payment of gas fees.

Visa suggests a solution that involves receiving the user’s gas fee payment off-chain through a Visa card and subsequently covering the equivalent sum on-chain on their behalf. This process simplifies the gas fee experience, resembling a typical card payment transaction.

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