Telegram's Wallet bot Enables Bitcoin and USDT Payments for Merchants
Telegram's Wallet bot is enabling merchants to accept Bitcoin (BTC) and Tether (USDT) through the messaging app.
Wallet, a Telegram bot built on The Open Network (TON) blockchain that allows users to transfer cryptocurrencies within chats, has launched a crypto payment solution.
In a Thursday tweet, TON said the new payment functionality is immediately accessible in all regions supported by the wallet service
"Cryptocurrency payments on Telegram just got easier with Wallet Pay: a payment service developed by the wallet team specifically for the Telegram ecosystem," the team said in the tweet.
"With its help, merchants will be able to instantly accept payments in cryptocurrency, and users will be able to pay for goods and services."
In the past, merchants had to resort to "do-it-yourself" solutions with basic bots that were linked to cryptocurrency payment systems.
However, courtesy of the new feature, called Wallet Pay, merchants can now seamlessly accept cryptocurrency payments within the Telegram app.
This means that users can make payments directly within their chats with merchants.
The Wallet chatbot, also known as @wallet on Telegram, is an independent bot built on the TON blockchain and Telegram.
It allows users to store, trade, and transfer three cryptocurrencies, including Toncoin (TON), Tether's USDT on Tron, and Bitcoin.
To receive crypto payments on Telegram, merchants must first apply on the Wallet Pay website.
According to the Wallet chatbot team, there are already approximately 200 companies in the queue to implement the product, with thousands of small businesses expected to apply in the future.
Users can create a new crypto wallet instantly linked to their Telegram account, without the need to save seed
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