Cuy Sheffield, Head of Crypto at Visa, a global payments technology company operating in over 200 countries, has confirmed that they have deployed its first paymaster smart contract on the Goerli testnet of Ethereum, a smart contracting platform.
Visa Is Experimenting
In a tweet on May 17, 2023, Sheffield said that Visa would continue researching and experimenting with account abstraction and EIP-4337 in the days ahead.
His comments were confirmed by a team member who said that the payments company is actively exploring the potential of smart contracts and the future of programmable money and payments.
As part of its experiment on the Goerli testnet, Visa will look at how it can further take advantage of EIP-4337 in deploying a functional paymaster smart contract to evaluate its utility.
The paymaster is a smart contract account that Visa says sponsors transaction fees for contract accounts. These trials are on Goerli, a public testnet on Ethereum for users to test decentralized app
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