Visa is exploring the possibility of enabling users to pay transaction fees on Ethereum using a card. Currently, users can only use ETH to pay for gas fees on Ethereum, resulting in complex transactions.
By enabling card payments, Visa aims to simplify the process and reduce the number of steps involved. Ethereum’s gas fees, which represent the computational effort required for transactions, must be paid in ETH.
Visa proposes a solution where users can use a card loaded with fiat currency to cover gas fees, utilizing Ethereum’s ERC-4337 standard and a paymaster contract. This innovation aims to enhance the onboarding process for new crypto users and improve the experience for existing ones.