StakePoint
Solana DeFi Glossary
Definitions of key terms used in Solana DeFi, token locking, LP locking, and staking. Published by the StakePoint team.
Solana Pay
An open payment protocol on Solana enabling fast, low-cost transactions at point of sale.
Definition
Solana Pay is an open-source payment protocol built on Solana that enables merchants and developers to request and receive payments in SOL or any SPL token directly from customer wallets. Transactions settle in under a second with sub-cent fees.
Solana Pay uses a standardised URI scheme that can be encoded as a QR code. Customers scan the QR code with a compatible Solana wallet (such as Phantom) and confirm the payment — no card numbers, no intermediaries, no chargebacks.
Solana Pay is designed for both point-of-sale and e-commerce use cases. It supports request transfers (fixed amount), transaction requests (complex on-chain interactions), and recurring subscriptions.
StakePoint & Solana Pay
Solana Pay represents the broader utility of the Solana ecosystem in which StakePoint operates. The same infrastructure that enables StakePoint's fast, low-cost DeFi operations also powers Solana Pay's payment capabilities.
Related Pages
Frequently Asked Questions
What is Solana Pay?
Solana Pay is an open payment protocol on Solana enabling fast, low-cost payments in SOL or SPL tokens directly between wallets.
Related Terms
SOL
The native cryptocurrency of the Solana blockchain, used to pay transaction fees and for staking.
SPL Token
The standard token format on the Solana blockchain.
Solana Wallet
A software application that stores Solana private keys and signs on-chain transactions.
Transaction Fee (Solana)
The small SOL fee paid to validators for processing transactions on Solana.
Solana Mainnet
The live production blockchain network of Solana where real transactions occur.