Payment Protocol Aeon has introduced authorized payment functionality built on the TON blockchain.
“By contributing to the infrastructure of the TON ecosystem, Aeon will improve the usability of blockchain technology in everyday scenarios,” the Singapore-based company said in a news release on Friday (Nov 29). mentioned in.
“The first real-world application of this innovation is ShareX’s Telegram mini-app, where Aeon simplifies the power bank rental process and demonstrates blockchain’s potential to transform everyday transactions.”
According to the release, users first select a service or product and begin a transaction. From there, Aeon's system will ask for payment approval and lock the required amount. Once completed, users will be able to access your service or product without any additional payment steps.
“Once a service or transaction is completed, payments are automatically processed based on the initial authorization, ensuring a smooth and secure exit without manual intervention,” the news release added.
According to Aeon, using the TON blockchain infrastructure, the company will be able to support various cryptocurrencies and wallet integrations, making it easy for users to choose their preferred payment method.
In other blockchain news, PYMNTS wrote last week about how the integration of this technology is transforming the loyalty industry.
The PYMNTS Intelligence/Solana report, “From Transaction to Transformation: Blockchain's Loyalty Proposition,” finds that the loyalty market is expected to exceed $24 billion in revenue over the next five years, and that brands will become more flexible, engaging, and It shows that they are racing to exploit the profitable blockchain potential. Compensation structure.
“Blockchain technology is reimagining loyalty programs by offering more flexible and attractive reward structures,” PYMNTS writes. “A key benefit for brands is the use of smart contracts – self-executing agreements that eliminate intermediaries, streamline processes, reduce costs and increase profitability.”
Tokenization, which turns assets into digital tokens, is increasing customer engagement, the report added. This process incentivizes participation and opens up new revenue streams by creating a secondary market where customers can exchange, sell, and rent rewards. Yuga Labs, an early adopter, earned an estimated $150 million in royalties through tokenized royalties.
Also last week, PYMNTS examined how blockchain has “moved from a solution looking for a problem to a solution looking for regulatory clarity” as the crypto market's market capitalization rises to more than $3 trillion. did.
The report states, “As the global economy embraces new applications of blockchain technology and digital assets, regulations in the US, UK and EU will play a key role in determining the future of Web3 infrastructure for payments and commerce. He has emerged as a decision-maker.”
