What exactly is Solana Pay (SOL) and how does it work?

Solana Pay has standardized payment criteria and is an open protocol that developers can build on and customize. PayPal was a significant advancement in the processing of payments. The financial ideas of Peter Thiel, Max Levchin, and eventually Elon Musk were far ahead of their time. It made it possible to make instant payments online between customers, businesses, and more. Pay is widely regarded as the next innovation in the payments processing industry because it facilitates payments while taking into account Web3 and nonfungible tokens (NFTs). Some people are even calling Solana's new payment method the Web3 version of Visa or PayPal. Solana Pay's operation will be explained in detail in this post so you can determine whether the project is as advertised. But before getting into the digital payment platform Solana Pay, it's important to understand Solana.