Key Points:
Telegram Wallet Bot launches Wallet Pay; in-app payments using Bitcoin, USDT, and TON.
Wallet Pay is a custodial wallet, enabling instant and secure payments for goods and services.
Wallet Pay integration enables merchants to tap into Telegram’s vast user community.
Telegram Wallet Bot launches Wallet Pay with in-app payments using Bitcoin, USDT, and TON. Instant and secure payments for goods and services; merchants can tap into Telegram’s vast user community.
Telegram Wallet, a custodial wallet bot on Telegram, has released Wallet Pay, a new encrypted payment solution based on the TON blockchain. The service offers encrypted payment transactions between users and retail businesses and support for direct payments within the Telegram interface. This new feature will be available immediately in all jurisdictions supported by the wallet service.
Wallet Pay supports in-app payments using Bitcoin, USDT, and TON. Unlike self-custodial or non-custodial wallets like MetaMask, Telegram Wallet Bot operates a custodial wallet with its fee structure. Vendors and Wallet Pay users can use crypto assets to make instant and secure payments for goods and services. The payment process requires just a few taps within either the merchant’s bot or web application on Telegram, according to a statement provided by the TON Foundation.
Users do not have to hold cryptocurrencies beforehand and can use a bank card to top up their Wallet account during the payment process. While Wallet Pay is for transactions between consumers and merchants, peer-to-peer crypto transfers between users are also available in Telegram via the @wallet bot.
Various businesses can leverage the Telegram and TON ecosystems by utilizing Wallet Pay’s seamless payment solution, said TON Foundation founding member Andrew Rogozov in a statement. By developing and promoting such a frequently demanded functionality, we are taking another step towards the mass adoption of cryptocurrency, which is the core mission of TON.
Users can try Wallet Pay’s public beta via the Wallet Pay bot or apply as a merchant via its website, with further updates on scaling and availability of the technology expected soon. With the launch of Wallet Pay, Telegram Wallet Bot has positioned itself as a promising solution for merchants and consumers looking to engage in cryptocurrency transactions with ease and security.
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