Since announcing WalletConnect Pay last week, we’ve seen a wave of excitement, feedback, and healthy skepticism ripple across the crypto ecosystem. Some see it as a breakthrough. Others are unsure if it’s just another hyped marketing stunt that won’t deliver.
My honest take? I believe that WalletConnect Pay is a strategically built solution to problems our space has been talking about for years. If it really takes off, it could mark a true turning point for crypto payments.
Sure, there’s still a lot of work ahead. But this isn’t just about WalletConnect’s next move. For WalletConnect Pay to succeed, it needs collective momentum. Wallets, PSPs, merchants, chains, and crypto-native users must rally around a shared goal: making crypto spending real, simple, and scalable.
Meanwhile, the timing is right. Onboarding has improved over the past years - wallet setup is easier, onramps are smoother, and DeFi is reaching a wider audience with more user friendly entry points. But spending is still the missing piece. That’s where WalletConnect Pay comes in. If we get it right, it won’t just complete the flow for crypto-native users - it’ll become a crucial layer that makes the entire industry more accessible, usable, and welcoming for the mainstream.
This shift won’t happen in isolation. It takes an industry to back a new standard. Let’s talk about the problems we want to solve, how WalletConnect Pay addresses it, and what it’ll take from all of us to make it work.
1. Wallet and UX Fragmentation
Crypto payments today are fragmented across wallets, chains, and assets. It’s unrealistic to expect PSPs or merchants to tackle support one by one. And even if they did, the result would likely be clunky, inconsistent UX - all of which leads to eventual user dropoff.
How WalletConnect Pay solves it:
Just as WalletConnect standardized how wallets connect to apps, WalletConnect Pay is here to standardize how wallets connect to payments - enabling payments from any supported wallet, on any chain or asset, through a single, consistent flow. Users simply scan a QR, confirm in their wallet, and the payment completes. The experience is the same across all wallets that integrate WalletConnect Pay. For merchants, it shows up like any other payment method: unified, familiar, and easy to support.
What the ecosystem can do:
The call to action is simple: wallets just need to integrate WalletConnect Pay. By doing so, they instantly become a compliant wallet gateway - ready to support real-world payments without changing their core UX. It also ensures their users get the most seamless, wallet-native crypto payment experience possible.
2. Distribution at Scale
Merchants don’t integrate payment methods - providers do. In crypto, we often underestimate just how crucial this distribution reality is. Without a way to reach merchants at scale, even the best payment rail goes unused.
How WalletConnect Pay solves it:
WalletConnect Pay is built for upstream distribution. It integrates directly into the systems PSPs and acquirers already use - settlement, reconciliation, compliance, refunds, reporting. Once enabled by a provider, it can be switched on for thousands of merchants at once.
What the ecosystem can do:
PSPs and acquirers hold the keys to scale but they make decisions based on demand. If merchants hear their customers asking for crypto payments, they’ll push their PSPs to enable it. And once the switch is on, it can be deployed instantly across their networks. Terminal providers like Ingenico provide the deployment surface, but it’s end-user demand that triggers the chain reaction.
That’s where the rest of the ecosystem comes in. If we want to spend crypto, we need to speak about it. Ask for it at checkout. Tell the merchants you use. When users speak up, merchants listen. When merchants ask, PSPs respond. It’s that simple.
3. Economic Alignment and Incentives
At the end of the day, crypto payments don’t scale just because they’re technically possible. They scale when they’re more attractive to everyone in the flow. Card networks dominate not just due to good UX, but because the economics work. To compete, new rails need better alignment amongst key players in the system.
How WalletConnect Pay solves it:
WalletConnect Pay improves the economics across the board. For merchants, it removes intermediaries, thus lowering costs and settles instantly, improving cash flow. For wallets, it unlocks new monetization models. And for users, it supports a wide range of assets and offers attractive cashback incentives to reward usage.
What the ecosystem can do:
It comes down to this: when given a choice, choose WalletConnect Pay.
For end users, there may be times when a card network offers slightly better rewards. But choosing WalletConnect Pay supports a payment flow that benefits merchants too - cutting processing costs in a way cards never will.
For wallets, we’re ready to co-drive wallet-led campaigns that layer additional rewards on top of base cashback so you can both introduce the feature and actively incentivize your users to try it. When everyone lean in, we create a new economic engine for crypto payments - one that’s better for everyone in the flow.
In sum, this is a moment for the industry to come together. If we want crypto payments to reach the next level, it’s going to take all of us - wallets, PSPs, merchants, builders, and users like you and me pulling in the same direction.
If you’ve got ideas or want to be part of this, reach out - we’re always up for a conversation. Until then, we’ll keep building.