diff --git a/Cargo.lock b/Cargo.lock
index 08e5102d3402a..c1ea4a479c0ef 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -4006,7 +4006,6 @@ dependencies = [
  "pallet-contracts-primitives",
  "pallet-randomness-collective-flip",
  "pallet-timestamp",
- "pallet-transaction-payment",
  "parity-scale-codec",
  "parity-wasm 0.41.0",
  "pretty_assertions",
diff --git a/bin/node/runtime/src/lib.rs b/bin/node/runtime/src/lib.rs
index cf1b0de8f7922..5acaafcab424f 100644
--- a/bin/node/runtime/src/lib.rs
+++ b/bin/node/runtime/src/lib.rs
@@ -581,6 +581,7 @@ parameter_types! {
 impl pallet_contracts::Trait for Runtime {
 	type Time = Timestamp;
 	type Randomness = RandomnessCollectiveFlip;
+	type Currency = Balances;
 	type Call = Call;
 	type Event = Event;
 	type DetermineContractAddress = pallet_contracts::SimpleAddressDeterminer<Runtime>;
@@ -594,6 +595,7 @@ impl pallet_contracts::Trait for Runtime {
 	type SurchargeReward = SurchargeReward;
 	type MaxDepth = pallet_contracts::DefaultMaxDepth;
 	type MaxValueSize = pallet_contracts::DefaultMaxValueSize;
+	type WeightPrice = pallet_transaction_payment::Module<Self>;
 }
 
 impl pallet_sudo::Trait for Runtime {
diff --git a/frame/contracts/Cargo.toml b/frame/contracts/Cargo.toml
index 57c278a3fb2a9..2dee486fcf681 100644
--- a/frame/contracts/Cargo.toml
+++ b/frame/contracts/Cargo.toml
@@ -25,7 +25,6 @@ sp-sandbox = { version = "0.8.0-rc3", default-features = false, path = "../../pr
 frame-support = { version = "2.0.0-rc3", default-features = false, path = "../support" }
 frame-system = { version = "2.0.0-rc3", default-features = false, path = "../system" }
 pallet-contracts-primitives = { version = "2.0.0-rc3", default-features = false, path = "common" }
-pallet-transaction-payment = { version = "2.0.0-rc3", default-features = false, path = "../transaction-payment" }
 
 [dev-dependencies]
 wabt = "0.9.2"
@@ -52,5 +51,4 @@ std = [
 	"pwasm-utils/std",
 	"wasmi-validation/std",
 	"pallet-contracts-primitives/std",
-	"pallet-transaction-payment/std",
 ]
diff --git a/frame/contracts/src/exec.rs b/frame/contracts/src/exec.rs
index ff0d4d9dc0de1..ba3619195d0c5 100644
--- a/frame/contracts/src/exec.rs
+++ b/frame/contracts/src/exec.rs
@@ -21,10 +21,11 @@ use crate::rent;
 use crate::storage;
 
 use sp_std::prelude::*;
-use sp_runtime::traits::{Bounded, Zero};
+use sp_runtime::traits::{Bounded, Zero, Convert};
 use frame_support::{
 	storage::unhashed, dispatch::DispatchError,
 	traits::{ExistenceRequirement, Currency, Time, Randomness},
+	weights::Weight,
 };
 
 pub type AccountIdOf<T> = <T as frame_system::Trait>::AccountId;
@@ -216,8 +217,8 @@ pub trait Ext {
 	/// Returns `None` if the value doesn't exist.
 	fn get_runtime_storage(&self, key: &[u8]) -> Option<Vec<u8>>;
 
-	/// Returns the price of one weight unit.
-	fn get_weight_price(&self) -> BalanceOf<Self::T>;
+	/// Returns the price for the specified amount of weight.
+	fn get_weight_price(&self, weight: Weight) -> BalanceOf<Self::T>;
 }
 
 /// Loader is a companion of the `Vm` trait. It loads an appropriate abstract
@@ -874,11 +875,8 @@ where
 		unhashed::get_raw(&key)
 	}
 
-	fn get_weight_price(&self) -> BalanceOf<Self::T> {
-		use pallet_transaction_payment::Module as Payment;
-		use sp_runtime::SaturatedConversion;
-		let price = Payment::<T>::weight_to_fee_with_adjustment::<u128>(1);
-		price.saturated_into()
+	fn get_weight_price(&self, weight: Weight) -> BalanceOf<Self::T> {
+		T::WeightPrice::convert(weight)
 	}
 }
 
diff --git a/frame/contracts/src/lib.rs b/frame/contracts/src/lib.rs
index c12029a856c9d..63de1ee164bb5 100644
--- a/frame/contracts/src/lib.rs
+++ b/frame/contracts/src/lib.rs
@@ -102,7 +102,7 @@ use sp_std::{prelude::*, marker::PhantomData, fmt::Debug};
 use codec::{Codec, Encode, Decode};
 use sp_runtime::{
 	traits::{
-		Hash, StaticLookup, Zero, MaybeSerializeDeserialize, Member,
+		Hash, StaticLookup, Zero, MaybeSerializeDeserialize, Member, Convert,
 	},
 	RuntimeDebug,
 };
@@ -117,6 +117,7 @@ use frame_support::traits::{OnUnbalanced, Currency, Get, Time, Randomness};
 use frame_support::weights::GetDispatchInfo;
 use frame_system::{self as system, ensure_signed, RawOrigin, ensure_root};
 use pallet_contracts_primitives::{RentProjection, ContractAccessError};
+use frame_support::weights::Weight;
 
 pub type CodeHash<T> = <T as frame_system::Trait>::Hash;
 pub type TrieId = Vec<u8>;
@@ -289,9 +290,10 @@ where
 	}
 }
 
-pub type BalanceOf<T> = <<T as pallet_transaction_payment::Trait>::Currency as Currency<<T as frame_system::Trait>::AccountId>>::Balance;
+pub type BalanceOf<T> =
+	<<T as Trait>::Currency as Currency<<T as frame_system::Trait>::AccountId>>::Balance;
 pub type NegativeImbalanceOf<T> =
-	<<T as pallet_transaction_payment::Trait>::Currency as Currency<<T as frame_system::Trait>::AccountId>>::NegativeImbalance;
+	<<T as Trait>::Currency as Currency<<T as frame_system::Trait>::AccountId>>::NegativeImbalance;
 
 parameter_types! {
 	/// A reasonable default value for [`Trait::SignedClaimedHandicap`].
@@ -312,10 +314,13 @@ parameter_types! {
 	pub const DefaultMaxValueSize: u32 = 16_384;
 }
 
-pub trait Trait: frame_system::Trait + pallet_transaction_payment::Trait {
+pub trait Trait: frame_system::Trait {
 	type Time: Time;
 	type Randomness: Randomness<Self::Hash>;
 
+	/// The currency in which fees are paid and contract balances are held.
+	type Currency: Currency<Self::AccountId>;
+
 	/// The outer call dispatch type.
 	type Call:
 		Parameter +
@@ -371,6 +376,10 @@ pub trait Trait: frame_system::Trait + pallet_transaction_payment::Trait {
 
 	/// The maximum size of a storage value in bytes.
 	type MaxValueSize: Get<u32>;
+
+	/// Used to answer contracts's queries regarding the current weight price. This is **not**
+	/// used to calculate the actual fee and is only for informational purposes.
+	type WeightPrice: Convert<Weight, BalanceOf<Self>>;
 }
 
 /// Simple contract address determiner.
diff --git a/frame/contracts/src/tests.rs b/frame/contracts/src/tests.rs
index df6afa8ac51e0..ae81a83be727c 100644
--- a/frame/contracts/src/tests.rs
+++ b/frame/contracts/src/tests.rs
@@ -30,7 +30,7 @@ use frame_support::{
 	assert_ok, assert_err_ignore_postinfo, impl_outer_dispatch, impl_outer_event,
 	impl_outer_origin, parameter_types, StorageMap, StorageValue,
 	traits::{Currency, Get},
-	weights::{Weight, PostDispatchInfo, IdentityFee},
+	weights::{Weight, PostDispatchInfo},
 };
 use std::cell::RefCell;
 use frame_system::{self as system, EventRecord, Phase};
@@ -169,17 +169,10 @@ impl Convert<Weight, BalanceOf<Self>> for Test {
 	}
 }
 
-impl pallet_transaction_payment::Trait for Test {
-	type Currency = Balances;
-	type OnTransactionPayment = ();
-	type TransactionByteFee = TransactionByteFee;
-	type WeightToFee = IdentityFee<BalanceOf<Self>>;
-	type FeeMultiplierUpdate = ();
-}
-
 impl Trait for Test {
 	type Time = Timestamp;
 	type Randomness = Randomness;
+	type Currency = Balances;
 	type Call = Call;
 	type DetermineContractAddress = DummyContractAddressFor;
 	type Event = MetaEvent;
@@ -193,6 +186,7 @@ impl Trait for Test {
 	type SurchargeReward = SurchargeReward;
 	type MaxDepth = MaxDepth;
 	type MaxValueSize = MaxValueSize;
+	type WeightPrice = Self;
 }
 
 type Balances = pallet_balances::Module<Test>;
diff --git a/frame/contracts/src/wasm/mod.rs b/frame/contracts/src/wasm/mod.rs
index 890915a793d46..a4814a1b22f43 100644
--- a/frame/contracts/src/wasm/mod.rs
+++ b/frame/contracts/src/wasm/mod.rs
@@ -162,6 +162,7 @@ mod tests {
 	use hex_literal::hex;
 	use assert_matches::assert_matches;
 	use sp_runtime::DispatchError;
+	use frame_support::weights::Weight;
 
 	const GAS_LIMIT: Gas = 10_000_000_000;
 
@@ -373,8 +374,8 @@ mod tests {
 				)
 			)
 		}
-		fn get_weight_price(&self) -> BalanceOf<Self::T> {
-			1312_u32.into()
+		fn get_weight_price(&self, weight: Weight) -> BalanceOf<Self::T> {
+			BalanceOf::<Self::T>::from(1312_u32).saturating_mul(weight.into())
 		}
 	}
 
@@ -479,8 +480,8 @@ mod tests {
 		fn get_runtime_storage(&self, key: &[u8]) -> Option<Vec<u8>> {
 			(**self).get_runtime_storage(key)
 		}
-		fn get_weight_price(&self) -> BalanceOf<Self::T> {
-			(**self).get_weight_price()
+		fn get_weight_price(&self, weight: Weight) -> BalanceOf<Self::T> {
+			(**self).get_weight_price(weight)
 		}
 	}
 
@@ -1056,7 +1057,7 @@ mod tests {
 
 	const CODE_GAS_PRICE: &str = r#"
 (module
-	(import "env" "ext_gas_price" (func $ext_gas_price))
+	(import "env" "ext_gas_price" (func $ext_gas_price (param i64)))
 	(import "env" "ext_scratch_size" (func $ext_scratch_size (result i32)))
 	(import "env" "ext_scratch_read" (func $ext_scratch_read (param i32 i32 i32)))
 	(import "env" "memory" (memory 1 1))
@@ -1072,7 +1073,7 @@ mod tests {
 
 	(func (export "call")
 		;; This stores the gas price in the scratch buffer
-		(call $ext_gas_price)
+		(call $ext_gas_price (i64.const 1))
 
 		;; assert $ext_scratch_size == 8
 		(call $assert
diff --git a/frame/contracts/src/wasm/runtime.rs b/frame/contracts/src/wasm/runtime.rs
index b393898835ba3..8c4d1bfb99a56 100644
--- a/frame/contracts/src/wasm/runtime.rs
+++ b/frame/contracts/src/wasm/runtime.rs
@@ -696,12 +696,14 @@ define_env!(Env, <E: Ext>,
 		Ok(())
 	},
 
-	// Stores the gas price for the current transaction into the scratch buffer.
+	// Stores the price for the specified amount of gas in scratch buffer.
 	//
 	// The data is encoded as T::Balance. The current contents of the scratch buffer are overwritten.
-	ext_gas_price(ctx) => {
+	// It is recommended to avoid specifying very small values for `gas` as the prices for a single
+	// gas can be smaller than one.
+	ext_gas_price(ctx, gas: u64) => {
 		ctx.scratch_buf.clear();
-		ctx.ext.get_weight_price().encode_to(&mut ctx.scratch_buf);
+		ctx.ext.get_weight_price(gas).encode_to(&mut ctx.scratch_buf);
 		Ok(())
 	},
 
diff --git a/frame/transaction-payment/src/lib.rs b/frame/transaction-payment/src/lib.rs
index 4d920f8ec53b8..b993a85da3df3 100644
--- a/frame/transaction-payment/src/lib.rs
+++ b/frame/transaction-payment/src/lib.rs
@@ -51,7 +51,7 @@ use sp_runtime::{
 	},
 	traits::{
 		Zero, Saturating, SignedExtension, SaturatedConversion, Convert, Dispatchable,
-		DispatchInfoOf, PostDispatchInfoOf, UniqueSaturatedFrom, UniqueSaturatedInto,
+		DispatchInfoOf, PostDispatchInfoOf,
 	},
 };
 use pallet_transaction_payment_rpc_runtime_api::RuntimeDispatchInfo;
@@ -340,23 +340,6 @@ impl<T: Trait> Module<T> where
 			tip
 		}
 	}
-}
-
-impl<T: Trait> Module<T> {
-	/// Compute the fee for the specified weight.
-	///
-	/// This fee is already adjusted by the per block fee adjustment factor and is therefore the
-	/// share that the weight contributes to the overall fee of a transaction.
-	///
-	/// This function is generic in order to supply the contracts module with a way to calculate the
-	/// gas price. The contracts module is not able to put the necessary `BalanceOf<T>` constraints
-	/// on its trait. This function is not to be used by this module.
-	pub fn weight_to_fee_with_adjustment<Balance>(weight: Weight) -> Balance where
-		Balance: UniqueSaturatedFrom<u128>
-	{
-		let fee: u128 = Self::weight_to_fee(weight).unique_saturated_into();
-		Balance::unique_saturated_from(NextFeeMultiplier::get().saturating_mul_acc_int(fee))
-	}
 
 	fn weight_to_fee(weight: Weight) -> BalanceOf<T> {
 		// cap the weight to the maximum defined in runtime, otherwise it will be the
@@ -366,6 +349,20 @@ impl<T: Trait> Module<T> {
 	}
 }
 
+impl<T> Convert<Weight, BalanceOf<T>> for Module<T> where
+	T: Trait,
+	BalanceOf<T>: FixedPointOperand,
+{
+	/// Compute the fee for the specified weight.
+	///
+	/// This fee is already adjusted by the per block fee adjustment factor and is therefore the
+	/// share that the weight contributes to the overall fee of a transaction. It is mainly
+	/// for informational purposes and not used in the actual fee calculation.
+	fn convert(weight: Weight) -> BalanceOf<T> {
+		NextFeeMultiplier::get().saturating_mul_int(Self::weight_to_fee(weight))
+	}
+}
+
 /// Require the transactor pay for themselves and maybe include a tip to gain additional priority
 /// in the queue.
 #[derive(Encode, Decode, Clone, Eq, PartialEq)]