Solana Labs has launched a payments protocol called Solana Pay to let merchants accept crypto payments directly from consumers. With Solana Pay, merchants can accept the USDC stablecoin, Solana’s native token SOL, and other Solana-based tokens on the Solana blockchain. Transactions will be instant, said Solana Labs, adding that merchants will receive “real-time” payments. They will also incur lower costs due to Solana’s lower fees, according to Solana Labs. “Merchants and consumers want a frictionless experience without taking on unnecessary volatility risk, and consumers don’t necessarily want to transact with their investments,” Sheraz Shere, head of payments at Solana Labs, told The Block.
Read more : Solana Labs launches Solana Pay, a payments protocol for digital commerce.
