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 <p class="is-style-lead">Visa has been exploring ways to allow users to pay blockchain gas fees directly with a credit or debit card.</p> 
 <p>Gas fees are required for transactions on blockchain networks like Ethereum (ETH). Traditionally, users needed to hold balances of native cryptocurrencies like ETH to cover these fees.</p> 
 <p>In an internal experiment, Visa leveraged smart contract technology to let users pay gas fees in fiat currency through a linked Visa card. This aims to remove the need for users to hold crypto solely to pay blockchain expenses.</p> 
 <blockquote class="wp-block-quote"> 
  <p>“By doing so, Visa helps take care of the complex processes behind the scenes, enabling users to effortlessly select their Visa card to cover gas fees.”</p> <cite>Visa’s statement</cite> 
 </blockquote> 
 <p>The proposed solution utilizes Ethereum’s ERC-4337 standard and involves a “paymaster” smart contract handling the background work.</p> 
 <p>To test the concept, Visa engineers built an implementation on Ethereum’s Goerli test network. They reported successfully sending blockchain transactions with off<a rel="noopener noreferrer nofollow" title="-chain" href="https://thebittimes.com/tag/chain.html">-chain</a> gas fee <a rel="noopener noreferrer nofollow" title="payments" href="https://thebittimes.com/tag/payments.html">payments</a>.</p> 
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 <p>“The intricacies and complexities of blockchain-based transactions have been a significant stumbling block for many users, creating a challenging learning curve and increasing user friction,” Visa said. “However, our experiment aims to offer a promising approach to substantially addressing these challenges.”</p> 
 <p>The financial services giant framed the effort as part of its broader work to make digital currency transactions more accessible.</p> 
 <p>Visa suggested merchants, decentralized apps, and wallet providers could adopt the gas fee approach. It said that the company’s crypto-focused teams are open to collaborating with other firms exploring programmable <a rel="noopener noreferrer nofollow" title="payments" href="https://thebittimes.com/tag/payments.html">payments</a> tech.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Visa and Microsoft join forces for Brazilian CBDC pilot project 
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Visa launches card payments for on-chain transaction fees

TheBitTimes

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