WalletConnect is introducing new “cashback” style incentives for consumers who use WalletConnect Pay, bringing a familiar, card-like rewards model to crypto payments.
With this update, consumers can receive WCT rewards when they buy goods and services online or in-store using WalletConnect Pay. The program is designed to reward early adoption, drive real-world crypto usage, and expand the WalletConnect ecosystem.
Bringing Cashback Economics to Crypto Payments
Card networks have long used cashback and rewards to drive usage and loyalty, but those rewards are typically funded through higher merchant fees. WalletConnect Pay applies the same proven incentive model to wallet-based crypto payments, while deliberately avoiding that trade-off.
The strategy is to reward adoption without shifting cost onto merchants.
For the initial launch period:
- Consumers can earn up to 2% in WCT rewards
- Eligible for transactions up to $100,000 per month
- Available for both online and in-store purchases
- Rewards are paid directly to the wallet used at checkout
Crucially, these incentives are designed alongside lower, more predictable merchant fees, not on top of them. Rather than maximizing end-user rewards by marking up acceptance costs, WalletConnect Pay spreads value across the network: consumers are rewarded for choosing wallet-based payments, merchants benefit from lower fees and fast settlement, and wallets are incentivized to deliver great payment experiences.
There are no new accounts, no extra steps, and no learning curve. Consumers pay with the wallet they already trust, merchants continue to be settled in the currency they want, and incentives reinforce adoption on both sides of the transaction.
How the WCT Rewards Program Works
Reown Inc. d/b/a WalletConnect plans to allocate a portion of WalletConnect Pay revenues to support the rewards program. These funds are used to purchase WCT on the open market, which is then distributed to eligible consumers as rewards.
This approach aligns incentives across the ecosystem:
- Consumers are rewarded for real-world spending.
- Wallets gain stronger engagement and retention.
- The broader network benefits from increased usage of WalletConnect Pay.
- Merchants are able to attract a new customer base and increase loyalty from existing ones.
A portion of WalletConnect Pay revenue is used to purchase WCT on the open market, reinforcing a sustainable rewards flywheel where increased usage drives organic token demand, while keeping payments simple, predictable, and familiar.
How the rewards flywheel works
- More payment usage: consumers choose WalletConnect Pay at checkout.
- Revenue is generated: Each transaction contributes to WalletConnect Pay revenue.
- WCT Acquisition: A portion of that revenue is used to purchase WCT on the open market.
- Rewards distribution: Purchased WCT funds cashback-style rewards for consumers.
- Aligned growth: WCT Token holder base, Network, and token usage and demand scale with real payment activity.
As part of WalletConnect’s decentralized governance model, WCT token holders will vote on WCT budget allocation in an upcoming governance vote. See here for details.
Designed for Real-World Payments
WalletConnect Pay is built for how payments actually work at scale. The rewards program is an extension of that philosophy, adding incentives without introducing complexity.
For end consumers, this means:
- Paying with any supported wallet
- Using the assets they prefer, including stablecoins
- Experiencing a familiar checkout flow
- Receiving instant confirmation and automatic rewards
For merchants and their existing payment service providers, nothing changes operationally. WalletConnect Pay continues to fit directly into existing payment stacks, reconciliation flows, and compliance frameworks.
Interchange-Style Revenue Sharing for Wallets
In addition to end-user rewards, WalletConnect Pay introduces interchange-like revenue sharing for participating wallets on the WalletConnect Network.
Similar to how card networks reward issuers, this model:
- Incentivizes wallets to deliver high-quality payment experiences
- Enables wallets to generate ongoing revenue
- Extends wallet utility from holding and trading to everyday spending
Wallets maintain control of their user experience while gaining a new, scalable revenue stream, without taking on card programs or additional regulatory overhead.
Why This Matters for Crypto Payments Adoption
Crypto payments have historically struggled with fragmentation, unfamiliar user experiences, and unclear incentives. WalletConnect Pay addresses those challenges directly:
- Familiar incentives: cashback-style rewards consumers already understand
- Wallet-first UX: Pay with the wallet you trust, no intermediaries
- Global reach: One integration connects merchants to a global wallet ecosystem
- Predictable economics: PSP-grade reliability and settlement
Looking Ahead
The WCT rewards program is designed to reward early consumers of WalletConnect Pay while accelerating adoption across merchants, PSPs, and wallets. As WalletConnect Pay continues to expand globally, incentives like these help ensure that crypto payments are not just possible, but practical, rewarding, and scalable.
Important Note: This content describes a proposed rewards program associated with WalletConnect Pay. The program, including reward rates, funding mechanisms, and eligibility criteria, is subject to change and has not yet been finalized. This message is not an offer, solicitation, or recommendation to purchase, invest in, or hold any securities, tokens, or other financial instruments. Any rewards described are not guaranteed and may vary based on market conditions, usage, and program parameters. WalletConnect Pay’s features, economics, and incentives may evolve due to technical considerations and legal or regulatory developments.