Frequently Asked Questions
Solana Pay is an open source protocol built on the Solana blockchain for payments using SOL and other cryptocurrency tokens. Solana Pay was released in early 2022. Users can send and receive global payments for less than one penny.
Solana Pay costs less than $0.01 per transaction. Solana Pay is considerably cheaper than typical credit card fees charged by Visa, Mastercard, and American Express which can be between 2-5% of the transaction value.
Solana Pay enables users to create payment requests in the form of a QR code or URL. The payment requests are similar to invoices requesting payment for goods and services. The payer can scan the QR code or click the URL to send the payment using their Solana account.
Avana Wallet enables you to create Solana Pay invoices using its wallet and web apps. A QR code and payment URL are created which you can send to the payer. Avana Wallet monitors the payment status and notifies you when the payment has been confirmed by the Solana blockchain.
Yes, anyone can use Solana Pay. Solana is decentralized and anyone is able to use its services. Businesses using Solana Pay can improve their profit margins by reducing their credit card processing fees when they use Solana Pay.
You can setup a Solana Pay in less than five minutes. Download Avana Wallet, create an account, and then create an invoice. It is free to setup Solana Pay.
Solana Pay transactions typically take 3-15 seconds to confirm. The Solana Pay payment time is similar to most major credit cards.