With the Web3 ecosystem overgrowing in adoption yearly, several firms have been seen over the past years trying to secure their spot in the rapidly developing environment. According to today’s news, Worldline is one of the latest firms to join the list.
Earlier today, Worldline, a leading global payment service platform announced its launch of a strategic initiative on the Solana blockchain. This initiative which Solana Foundation backs is aimed at enabling projects on Solana to access Worldline’s payment platform.
“As Web3 develops, Worldline is dedicated to enabling merchants to ready themselves for a future based on blockchain technology,” said Babouschka van Bilsen, Head of Metaverse, Web3 & Crypto at Worldline’s Digital Commerce business line.
“Working with Solana, allows Worldline to support their goal to empower developers and accelerate the development of amazing new Web3 games. Solana developers now have the capabilities and tools that allow their blockchain games to build their payments strategy from the ground up,” Bilsen added.
Bringing Global Payment Solution To Web3
While the launch could be beneficial to both parties, the underlying idea behind it is to bring Web3 closer to global payment solutions. With Solana having a lower gas cost with high throughput, Web3 projects integrated with Worldline will be automatically provided with route payments that offer lower fees and the highest conversion, according to the announcement.
Johnny Lee, Head of Games at Solana Foundation, noted, “One of the most pressing needs across Web3 is seamless on- and off-ramps. Gaming studios building on Solana need access to robust payment rails capable of supporting fiat-to-crypto transactions worldwide. Worldline’s solution provides end users a single pathway to paying with their preferred method.”
Additionally, the Worldline launch on Solana will allow several blockchain companies in need of a payment system to now be able to use the Worldline platform Payment Orchestration for direct access to the Worldline’s more than 300 payment partners and payment methods, eliminating the need for multiple payment integrations.
Furthermore, Worldline Payment Orchestration is a single platform used to manage all payments regardless of the number of providers connected. The platform contains several payment features which include fiat and crypto payments integration, reporting and analytics for conversion rate as well as smart payment routing.