Payment protocol Infinite time introduced an authorization payment functionality based on the TONNE blockchain.
“By contributing to the infrastructure of the TON ecosystem, Aeon improves the usability of blockchain technology in everyday scenarios,” the Singapore-based company said in a statement. press release Friday (November 29).
“The first concrete application of this innovation is in ShareX Telegram mini app, where Aeon simplifies the power bank rental process, demonstrating the potential of blockchain to transform everyday transactions.
According to the release, users start by choosing a service or product and initiating a transaction. From there, Aeon’s system asks them to authorize a payment, locking in the required amount. Once completed, users can access the service or product without additional payment steps.
“Once the service or transaction is completed, payment is automatically processed based on the initial authorization, ensuring a smooth and secure close without manual intervention,” the press release adds.
Using the TON blockchain infrastructure, Aeon said, the company can support a range of cryptocurrencies and wallet integrations, allowing users to easily choose their preferred payment methods.
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: the blockchain loyalty proposition” shows that the loyalty market is expected to exceed $24 billion in revenue over the next five years as brands strive to harness the potential of blockchain to offer more flexible, attractive and profitable reward structures.
“Blockchain technology is reshape loyalty programs by offering more flexible and attractive reward structures,” PYMNTS wrote. “A key advantage for brands is the use of smart contracts – self-executing agreements that eliminate middlemen, streamline processes, reduce costs and increase profitability.
Tokenization, which transforms assets into digital tokens, increases customer engagement, the report adds. By creating secondary markets where customers can trade, sell Or rent out their rewards, this process encourages participation and opens up new revenue streams. Yuga Labs, an early adopter, earned around $150 million in royalties via token loyalty.
Also last week, PYMNTS explored the way blockchain has “gone from a solution in search of a problem to a solution in the hope of some regulatory clarity”, with the market capitalization of the cryptocurrency market climbing to more than 3 trillion dollars.
“As the global economy shifts toward new applications of blockchain technology and digital assets, regulations in the United States, United Kingdom and European Union are emerging as critical arbiters of the future of Web3 infrastructure for payments and commerce,” the report said.
