Designed by the TON Foundation, TON Pay is a complete protocol and software development kit (SDK) that allows developers to build and integrate crypto payments into applications on The Open Network (TON), providing a unified Application Programming Interface (API) for devs to accept TON and Jetton tokens directly on-chain.
How TON Pay Simplifies On-Chain Transactions
The TON Pay protocol eliminates some challenges of blockchain interaction. Developers can simply add the SDK to websites, Telegram Mini Apps, or other back-end services and set up to create, track, and manage payments without building any custom smart contract logic. In addition, TON Pay uses TON’s high-performance architecture to enable transaction confirmation in less than one second and average fees of only about 1 cent per transaction.
The most important feature of this solution is that all transactions are non-custodial. Therefore, funds are sent directly from the customer’s wallet (using TON Connect) to the merchant without any intermediaries holding them during the transfer process.
A Step Forward for the TON Ecosystem
TON Pay is the necessary foundation to support a working infrastructure that creates significant real-world commerce utility using crypto payments and bridges the gap as an easy-to-implement payment mechanism through an API call. As such, it reduces the obstacles for merchants and developers to adopt TON as a solution, particularly when combined with the tremendous built-in user base comprised of the Telegram ecosystem, and it allows devs to build monetizable bots and other types of services easier than ever before.
In addition to detaching itself from speculative digital assets, implementing TON Pay provides a framework to develop a fast, low-cost alternative to traditional digital payment networks.
Toncoin Price Overview
The TON token is trading at USD 1.35 at the time of writing. The current market crash has hit the asset with force, dropping a 22% in the last month. Fighting to break above USD 1.50 and USD 1.75 as the next resistance levels. With this new integration into their payments ecosystem and more institutional/retail backing, is not hard to believe that the token could suddenly surge in the coming weeks.
