From Transactions to Payments | Pedro Gomes at Pragma Lisbon 2026

Wed, Aug 12, 2026, 12:00 AM

Pedro Gomes, Founder of WalletConnect, argues that crypto has optimized transactions without fully solving payments. Blockchains can move assets, but a useful payment system must also coordinate authorization, clearing, settlement, merchant acceptance and the exchange of goods or services. He contrasts crypto’s common push-payment model with card and bank systems that pull funds after authorization, explaining why a simple wallet transfer leaves merchants and consumers to manage timing, token, chain, and counterparty complexity themselves. He breaks a payment into distinct stages that crypto applications often collapse into a single transaction. Authorization determines whether a buyer and merchant can complete the exchange, clearing reconciles obligations and handles rules, and settlement moves final value. Card networks and bank payments coordinate these stages before funds are pulled. A blockchain transfer usually pushes funds immediately, which creates problems when the merchant cannot accept the asset, the amount changes, the wrong chain is selected, or goods are delivered before payment is confirmed. Gomes outlines a WalletConnect approach that abstracts those choices behind one integration and a familiar payment request. A universal connection layer can route across wallets, stablecoins, tokens, and chains while supporting authorization before final settlement. For merchants, stablecoin payments can reduce chargeback abuse and integration overhead; for users, they can remove the need to install a special app or understand network mechanics. The larger goal is to move crypto beyond speculation and trading toward products people use because they offer faster, simpler, globally portable money, not because the payment happens on a blockchain. WalletConnect’s distribution gives it a foundation for a neutral payment layer because the same connection standard already reaches many wallets and applications. Gomes describes payment requests that can identify acceptable assets, route value, and abstract settlement without forcing merchants to integrate every token and chain. Stablecoins add global, programmable money, while the payment layer supplies the missing commercial workflow. 00:00 Introduction to WalletConnect Payments 00:25 From Wallet Transactions to Payments 01:14 Crypto Infrastructure and Money Movement 01:36 Bitcoin Started With Payments 01:57 Why Transactions Are Not Payments 02:49 Payments Coordinate Two Parties 03:12 Authorization, Clearing, and Settlement 03:32 Merchant Authorization and Compatibility 03:53 Clearing Rules and Risk Assessment 04:35 Settlement as the Final Stage 04:57 Why Settlement Can Arrive Later 05:18 How Payment Requests Work 05:41 Pull Payments Versus Push Payments 06:21 Preauthorization Reduces Payment Friction 06:49 Merchant Risk and Escrow Problems 07:37 Stablecoins and Merchant Complexity 08:17 Merchants Want Their Local Currency 08:38 One Integration Across Tokens and Chains 09:00 WalletConnect Distribution and QR Codes 09:47 Lower Fees for Global Merchants 10:30 False Disputes and Merchant Losses 10:53 Use Any Wallet Without a New App 11:17 Pay With Preferred Tokens and Chains 11:59 Payments for Mainstream Adoption 12:18 Moving Beyond Trading and Speculation 13:08 SDKs for Wallets and Payment Companies 13:44 Closing the Payments Presentation _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🇵🇹 *Pragma Lisbon 2026* Pragma Lisbon 2026 was held on June 25th at the Carlos Lopes Pavillion in Lisbon, Portugal and was an in-person summit for builders and leaders in the web3 ecosystem. Watch the full Pragma Lisbon 2026 YouTube Playlist here: https://www.youtube.com/playlist?list=PLMxB4xW8JYdk ETHGlobal's Pragma series takes place in cities around the world, and is designed to be a different kind of event. Pragma is a one-stage conference with founders-only on stage, bringing together a small group of curated attendees and speakers to discuss the future of web3 and reflect on the past. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅ Follow Pedro Gomes X: https://x.com/pedrouid ✅ Follow WalletConnect X: https://x.com/WalletConnect ✅ Follow ETHGlobal X: https://x.com/ETHGlobal​ Warpcast: https://warpcast.com/ethglobal Website: https://ethglobal.com YouTube: https://www.youtube.com/@UCfF9ZO8Ug4xk_AJd4aeT5HA _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Are you interested in Ethereum development and entrepreneurship? 👉 Sign up for the next ETHGlobal event: https://ethglobal.com/events 🎁 Get exclusive access and perks with ETHGlobal Plus! https://ethglobal.com/plus 📣 Want us to throw an event in your city? Tell us where! https://ethglobal.com/city