The History of Solana Pay While Solana Labs played a significant role in the creation of Solana Pay, other businesses were also involved.

Shere said that Circle, Checkout.com, Citcon, Phantom, FTX, and Slope were all involved in laying the groundwork for the digital payment platform Solana Pay, according to Shere. According to a Visa study, Team Circle states that "73% of businesses believe accepting digital payments is fundamental to growth in 2022." According to the same study, "already are, or plan to use only digital payments within the next two years" were 59% of those businesses. Because Solana Labs, Circle, and their other partners want to be prepared for these early adopters, these statistics were a part of the foundation for Solana Pay. In 2021, Shere started working on Solana Pay at Solare Labs. What is Solana Pay's operation? By utilizing the power of the Solana blockchain network, the digital payment platform Solana Pay provides customers and businesses with instant, fee-free transactions that are said to have no effect on the environment. The network offers businesses an easy-to-implement software development kit for integrating the product and claims to support 65,000 transactions per second.