Visa announced it has completed a test of using Visa cards to pay blockchain gas fees. The test aims to explore the solutions to simplify on-chain transactions, thus streamlining the onboarding process for new crypto users and improving the experience for current users.
The test was run on the Ethereum Goerli testnet. Visa's solution utilizes Account Abstraction and a paymaster contract, which can accept the user's gas fee payment off-chain from a credit or debit card with fiat currency, and cover the equivalent amount on-chain, on behalf of the user. A paymaster is a specialized type of smart contract account that can sponsor gas fees for user contract accounts. According to Visa, "The gas fee experience on the user's end is as simple as a regular card payment."
"Our experiment demonstrates that developers can implement this solution with existing payments infrastructure. Merchants or dApps could run their own paymaster solution as a means to help improve customer experience by accepting gas fee payments using Visa cards. Alternatively, existing wallet and paymaster service providers could offer a card-based gas fee payment choice for general use alongside their other paymaster offerings." Visa added.
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