Visa reviews StarkNet for automating recurring payments

Visa reviewed the Ethereum layer-2 solution StarkNet to enable automated and programmable payments.

Unlike traditional mobile banking apps, establishing automatic recurring payments in dapps is not straightforward.

To solve it, the team applied the concept known as account abstraction. The innovation enables sending payments using a non-custodial wallet without the need to sign every transaction.

An embedded approach can also be applied to other real-world applications, the developers said.

Visa is open to discussing ideas in the field of programmable payments.

In December 2021, the company announced the creation of a new consulting division, which will help clients navigate cryptocurrencies.

Visa is also developing products aimed at stablecoins and CBDC.

In May StarkWare raised $100 million in a Series D funding round. The startup was valued at $8 billion.

Follow ForkLog’s Bitcoin news on our Telegram channel — cryptocurrency news, prices and analysis.