How to use Payment?
How to utilize the Payment function of Wallet?
1. What is Payment?
Payment is an innovative feature designed for Wallet users, introduces a new way to use cryptocurrency for everyday purchases. It allows Wallet users to conveniently make direct payments using cryptocurrency for regular products and services.
This feature simplifies transactions with a quick tap on the phone, making cryptocurrency usage as straightforward as traditional currency transactions in daily life.
It's a notable advancement that enhances the ease of using cryptocurrency for routine transactions, benefitting both buyers and sellers.
2. Which devices can utilize Payment?
As of now, Payment is exclusively available on Android mobile devices, as it requires the NFC function to facilitate the payment process.
Although Wallet can be used on iOS devices, the Payment feature, unfortunately, is not available for iOS users. Apple's strict policies restrict the use of alternative payment methods, such as Payment, on iOS devices.
3. Does Payment accept all types of cryptocurrencies?
No, it doesn't.
Payment currently only accepts two types of tokens: ERC-20 and ERC-1155.
ERC-20
ERC-20 is one of the widely used standards for tokens in the crypto realm. So, chances are, the tokens you possess can likely be utilized for Payment without any issues.
Moreover, you have the flexibility to exchange or convert your tokens into ERC-20 tokens if needed.
ERC-1155
As for ERC-1155, it's a prominent standard for NFTs (Non-Fungible Tokens).
While Payment does accept NFTs as a valid form of payment, the specific NFTs eligible for payment are determined by the shop owners or sellers.
Essentially, sellers have the option to issue vouchers or payment tickets in the form of NFTs using the ERC-1155 standard. Buyers can then utilize these NFTs to make their purchases.
Supported chains
Currently, Payment supports cryptocurrency payments across four chains:
Ethereum.
BNB Chain.
Polygon.
Avalanche.
4. How to use Payment?
The very first step is to open the Payment page.
Payment User Interface (UI)
Setting button: Customize language preferences, regional currencies and contact support here.
Blockchain: Choose the token chain preference from four options: Ethereum, BNB Chain, Polygon, or Avalanche.
Token contract address: Enter the unique contract address of the token you wish to receive.
ERC-20 Tokens: Input the specific token address (e.g., ETH, USDT, MATIC, etc.) to receive these tokens.
ERC-1155 Tokens: For ERC-1155 tokens, enter the ERC-1155 token address. As ERC-1155 is a standard used for NFTs (Non-Fungible Tokens), this address suffices.
Address to receive payment: This is the wallet address where payments will be received—simplified, it's the seller's address.
Balance: Shows wallet balance based on information entered in sections (2), (3), and (4) above.
Update: Your balance should update automatically after receiving payments. If not, use this button to manually refresh it.
View History: This will take you to your wallet transaction history on Polygon Scan.
How to receive payment?
Upon accessing the Payment page, follow these steps to receive payments:
For ERC-20 Tokens:
Select the Blockchain.
Input the token contract address.
Enter the payment address.
Click the "Receive payment" button.
Specify the number of tokens to receive.
Click "Next".
Prompt the buyer to tap their Wallet card on your device to confirm the payment.
Wait for the transaction to finalize.
For ERC-1155 Tokens:
The process for ERC-1155 tokens is similar to ERC-20 tokens, with a few adjustments:
Choose the Blockchain.
Enter the ERC-1155 token contract address.
Input the payment address.
Click the "Scan to pay" button.
Prompt the buyer to scan their Wallet card on your device.
Select the ERC-1155 NFT for payment.
Click "Next".
Enter the number of the NFT you wish to receive.
Click "Pay".
Wait for the transaction to complete.
5. Why do I see numbers displayed upside-down when receiving payments with ERC-20?
This design choice allows the buyer to easily view the amount they need to pay.
Typically, buyers are facing the seller during the payment process, so this orientation facilitates their visibility of the payment amount.
6. What happens if the buyers don't have the ERC-20 token I specified for receiving payment?
You're not limited to a single token choice. If your buyers don't possess the designated token for payment, you have the flexibility to switch the token you wish to receive, as long as it is ERC-20 token.
Simply by adjusting the Token contract address, you can adapt your preferred payment currency to suit the availability of your buyers' tokens.
Last updated
