Payments in web3 are broken.

Why are we saying that?

For this, let’s take 2 payment applications as example, one from crypto world and another from non-crypto world

• Phantom

• Google Pay

Phantom is a web3 wallet that helps user interact with applications.

A user doing payment on phantom goes through this flow

• Click on send

• Close Phantom

• Copy receiver’s address from telegram, whatsapp or from anywhere else

• Open phantom again and click on send

• Paste the copied address in input box

• Select blockchain & token from a long list of tokens

• Enter amount in token value

• If want to send exact dollar amount, close phantom and convert token to USD and open phantom again

• Enter amount in dollar value

• Click send

Google Pay is a payment application built on top of UPI

A user doing payment on google pay goes through this flow

• Click on receiver’s icon or Click on pay

• If clicked on pay, enter receiver’s UPI id or choose their phone number

• Enter amount

• Click pay

In this flow, there is no option for user to choose token or blockchain as everything is settled in INR on UPI

But this alone is not the reason why Google Pay’s UX is better, its because it has successfully eliminated the need for user to leave the application to choose receiver or convert amounts

So, what do we need in an application for it to have improved payment experience

• Abstract blockchains and tokens

  • Not completely abstract, we can’t do that, but subtly hide it

• Enable user to choose receiver within the app itself, without leaving it ever

• Convert token values on pay screen itself

In short, never letting anyone leave the app in any part of the flow

Because of all this, Pay. has the best payments experience in blockchain

• We abstract blockchains and tokens

• Enable user to choose receiver without leaving the app

• Convert fiat to token inapp itself

Abstraction of blockchains

Do you see blockchain anywhere?

The only mention of blockchain here will be, if transaction / request is specifically done in token value, otherwise everything will be in fiat chosen by user

Enable user to choose receiver without leaving app

This filtering is based on 2 data points

• Previous interactions

• Address books

This data points will help us to filter addresses / IDs in-app itself, without user every leaving the app

But, what if user has never interacted with that address or ID before?

Everything has a first time, we’ve looked at various data and found that most of the transactions happening on payments app are frequently interacted accounts, meaning once a user is added manually, chances are higher that interactions will increase between those users, so the cost of adding an address or ID first time manually becomes low gradually over the time.

Convert token values on pay screen

In above screen, USD amount is converted to MATIC amount realtime and clicking on token, opens a list to change tokens, that is also filtered based on the USD amount entered.

For example, if user has 100$ of MATIC, 50$ of SOLANA and 10$ of ETHEREUM and they entered 10$, then they will be shown all of the tokens, if they increase it to 40$, only SOLANA and MATIC will be shown.

These are few of the improvements that Pay. is doing in payments space, all of these improvements are combined in a single mobile application supporting 10+ chains including major EVM, Solana & Aptos blockchains.

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This was all possible because of Fetcch’s APIs and simple documentation, check ‘em out at docs.fetcch.xyz