Wallet Telegram bot team launches crypto-payments service

The developers of the Wallet Telegram bot, built on The Open Network launched the beta version of Wallet Pay with support for Bitcoin, USDT and TON.

“Wallet Pay is a new system designed specifically for convenient payments for goods and services in Telegram. By connecting the service to the bot, merchants will be able to accept and process instant cryptocurrency payments,” the project representatives explained.

The purchase and payment process is conducted through the messenger. Using the utility, users can also send digital assets directly to their contacts.

During the test phase, Wallet Pay is connected only to text-based Telegram bots. Later, support for web bots and direct integration with websites will follow.

Merchants will quote prices for goods in fiat, but at payment the buyer will see the cryptocurrency equivalent.

According to Wallet Pay representatives, merchant commissions will be set individually, but on average will be 2-3%. For withdrawals from Wallet, стандартные транзакционные издержки apply, they clarified.

The service is already available in most jurisdictions where crypto payments are legal, with the exception of the United States. Those wishing to apply for connection should fill out a form on the website.

In the Telegram bot itself, October 2022, TON and Bitcoin have been available since then. Asset purchases can be made via the P2P service or through card payment. Later, developers added support for USDT.

In April 2023, Wallet developers integrated the function to purchase the first cryptocurrency via the messenger’s web interface.