The 1inch Wallet: A deep dive into the payment request feature
In this post, we'll take a closer look at one of the unique functionalities offered by the 1inch Wallet – the payment request feature, which streamlines the process of sending and receiving crypto.
Among DeFi wallets, the 1inch Wallet stands out for its unique payment request functionality. This feature allows users to receive a specific amount of any token by creating a link or QR code embedded with URLs. These QR codes and links can be instantly shared via email, social media or messaging apps.
When the recipient receives the QR code/ link, they just click on it to be effortlessly redirected to the Send screen of the 1inch Wallet app. All the payment details, such as the amount and address, are conveniently pre-filled. The only action that remains is to confirm the payment.
Payment requests are available across all networks supported by the 1inch Wallet, including Ethereum, BNB Chain, Polygon, Optimism, Arbitrum, Avalanche, Fantom, ZKSync Era, Gnosis Chain, Klaytn and Aurora.
The benefits of the payment request feature
Effortless funds transfers. Users can generate a payment request with just a few clicks, eliminating the hassle of copying or manually entering long addresses. And fulfilling a payment request is as simple as scanning a QR code or following a link.
Increased security. With the payment request feature, the risk of making mistakes or falling victim to hacker attacks is greatly reduced. Users no longer have to worry about accidentally sending funds to scammers by pasting addresses from the clipboard, since there is a risk of devices being infected with malicious software. Such mistakes are completely avoided by using the link or QR code from the payment request. Additionally, the feature prioritizes Ethereum hex addresses over ENS (Ethereum Name Service) searches, offering an extra layer of protection against malicious redirection.
How does it work?
Let's explore a smooth and user-friendly experience of transferring funds between User A and User B by following simple steps for User A to create a payment request and User B to fulfill it.
User A: Creating a payment request
- Open the 1inch Wallet app and select the wallet you wish to receive funds to.
- Navigate to the Receive section within your chosen wallet.
- Among Address and Request, select the tab Request
- Select the desired network and token and enter the specific amount you wish to receive.
- Click the Generate QR code button.
- Share the generated QR code and link via email, messaging apps or social media. Alternatively, you can directly send the QR code to User B.
User B: Fulfilling a payment request
- Upon receiving a payment request, simply follow the provided link or scan the QR code.
- Instantly, the 1inch app will redirect you to the Send screen with pre-filled payment details, including the requested amount and User A's wallet address.
- Choose the wallet you prefer to use for fulfilling the payment request within the 1inch Wallet app.
- Customize additional parameters, such as gas and transaction speed, if desired.
- With a click of the Send button, complete the transaction and provide User A with the requested funds.
User A and User B effortlessly created and fulfilled the payment request with just a few clicks, ensuring a smooth and secure fund transfer process. As a result, user A had confidence in receiving the precise amount on the selected network. At the same time, User B enjoyed the hassle-free experience without the risk of making any mistakes when sending crypto. Furthermore, the process for User B was notably expedited since it didn't involve the manual entry of payment details.
You can test this and other handy features by installing the 1inch Wallet available for iOS and Android.
And stay tuned for more articles focusing on 1inch products!