In a recent post on the payments giant’s blog, Visa proposed an idea that would allow crypto users to be able to automatically pay their electricity and phone bills through their private wallets.
The proposed solution includes allowing service providers to automatically “withdraw” funds from users’ Ethereum wallets, using a new type of self-custodial wallet. This means that users will not be required to manually sign each transaction. The Visa team has already successfully tried the proposed solution in a private chain from StarkNet’s second layer solution (the Israeli one, it should be noted)
Visa stated, “This application can allow a user to set up a programmable payment instruction that can automatically push funds from one custodial wallet account to another at recurring intervals, without requiring the user’s active participation each time.”
