Visa proposes a way for Ethereum users to set up automatic payments from self-custodial wallets

Visa has proposed a way for Ethereum users to set up automatic payments from self-custodial wallets, according to a blog post published by the company.

The proposal involves using a feature called Account Abstraction, which is currently under consideration by Ethereum’s core developers, to enable automatic payments.

This would allow users to set up recurring payments for bills, something that is not currently possible with Ethereum due to the inability of automated smart contracts to request transactions.

To overcome this limitation, Visa created a new type of Ethereum account called a “delegable account” that combines the functions of user accounts and smart contracts.

This account can be granted permission by a user to allow a merchant to trigger payments through a smart contract. Visa implemented the delegable accounts on StarkNet, a layer-2 network for Ethereum, but did not specify whether it plans to offer the feature to its clients.