Visa Introduces New Way To Pay For Ethereum Gas Fees Directly Using Visa Cards

According to the firm, the majority of users find the present gas payment methods to be unnecessarily complicated. Visa noted in athat although blockchain technology has gained a lot of traction recently, people still find it difficult to understand the nuances of on-chain transactions.

Every transaction on Ethereum needs the payment of a gas fee, which often means ensuring one has a balance of Ether in their wallet. TheEthereum standard, which enables smart contracts to operate as wallets by utilizing account abstraction, is what Visa advises using in conjunction with a paymaster contract. This paymaster agreement might support users' gas fees, enabling users to pay for gas directly with a Visa card.

Visa has been actively exploring the crypto sector, including looking into accepting settlement payments using USDC on Ethereum.Related Articles

Source: Digital Coin News (digitalcoinnews.net)

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