In a first for the popular messaging app, Telegram, merchants can now accept cryptocurrency payments in-app, thanks to a novel integration. This new feature is brought to life by Wallet, a platform built on the Telegram Open Network (TON) blockchain.
With the integration of Wallet Pay, merchants on Telegram can readily incorporate crypto payment options into their bots, giving their customers an additional and novel method to pay for goods and services. This means that users can make secure, instant payments in both Tether (USDT) and Toncoin (TON) directly within the Telegram application.
TON Foundation said, “The smooth and simple payment process requires just a few taps within either the merchant’s bot or web application on Telegram”.
Despite the massive Telegram user base, which stands at over 700 million, only around 2 million currently use Wallet services. This new integration aims to expand the adoption of Wallet Pay, leveraging Telegram’s extensive community to do so.
Users can fund their Wallet accounts using a bank card during the payment process. Additionally, Wallet Pay supports peer-to-peer crypto transfers via the wallet bot, further simplifying the crypto transaction experience within Telegram.
This integration is an initiative of the TON Foundation, a non-commercial entity committed to fostering the adoption of cryptocurrency on a mass scale. The foundation recognizes the potential that Telegram’s vast user community presents for achieving this mission.
In an attempt to fine-tune the integration, a public beta of Wallet Pay is currently ongoing. Users who want to participate can engage with the Wallet Pay bot, while merchants interested in utilizing the new service can apply through the website.
This forward-thinking integration positions Telegram at the forefront of messenger apps embracing cryptocurrency, signaling a new era in digital transactions.
Also Read: TON Started Encrypted Messages to Enhance Blockchain Privacy
