SOLANA-PAY

Solana Pay Web3 / blockchain enterprise platform.

Definition

Solana Pay (announced February 2022 by Solana Foundation + Solana Labs) is the open + permissionless + decentralized payments standard + protocol built on Solana blockchain (founded 2017 by Anatoly Yakovenko, ~$30B+ peak SOL market cap 2024) enabling merchants + customers instant + near-zero-fee payments in SOL cryptocurrencies + USDC stablecoin + other SPL tokens via QR codes + URLs deep linking + browser/mobile wallets integration. Platform + technical architecture consensus mechanism + smart contract language + tokenomics + ecosystem developers + dApps + DeFi + NFTs + RWA tokenization + enterprise pilots + production deployments + governance + regulation + interoperability + bridges + scalability + cybersecurity + sustainability + multiple use cases industries banking + supply chain + healthcare + gaming + identity + multiple emerging Web3 ecosystem 2020s+.

Origin

Solana mainnet beta launched mars 2020 ; Solana Pay announced fevrier 2022 ; integration Visa Solana USDC settlements pilot annonce septembre 2023.

Example in context

E-commerce merchant integrates Solana Pay: customer chooses 'Pay with Solana' at checkout, scans QR code with mobile Solana wallet (Phantom + Solflare + others), transaction signed + submitted Solana network, settled ~400ms + final settlement ~13 seconds ; merchant receives USDC stablecoin (avoiding SOL volatility) + near-zero transaction fee vs traditional card payments 2-3% interchange.

Related terms

• Stellar USDC — alternative stablecoin payments.