Home Cryptocurrency News Finance and Funding Shopify Merchants Can Now Accept Bitcoin Payments via Lightning Network

Shopify Merchants Can Now Accept Bitcoin Payments via Lightning Network

E-commerce platform Shopify now features a Lightning Network plug-in that allows its 500,000 merchants to accept Bitcoin payments.

Shopify

Shopify, one of the biggest e-commerce platforms with over 500,000 merchants, now features a Lightning Network plug-in for Bitcoin payments.

OpenNode, a payment processor that facilitates Bitcoin payments for individuals and businesses, has built a Shopify plug-in that allows stores that use the platform to accept Bitcoin payments through the Lightning Network.

OpenNode CEO, Afnan Rahman, said about the Shopify plug-in:

“Other payment processors have failed to provide a smooth experience for both the customers and the businesses using them and we intend to improve the overall experience”

On-chain Bitcoin payments on Shopify have been possible for some time through BitPay, but OpenNode is the first company to bring cheap, split-second Lightning payments to the platform.

Currently, the plug-in features:

  • The payment amount is calculated using real-time exchange rates;
  • Allows for fee-less and instant Bitcoin payments through Lightning Network;
  • Supports traditional on-chain transactions using the new native SegWit addresses (bech32);
  • No setup or recurring fees;
  • Free Lightning Network and scheduled withdrawals.

Besides Shopify, OpenNode has also integrated with other major e-commerce platforms like OpenCart, PrestaShop, and WooCommerce.

OpenNode, founded in 2018, received an investment of $1.25 million from venture capitalist Tim Draper and early-stage investment firm Draper Associates.

According to Almeida, the continuous development of infrastructure from protocol developers would see the company grow even further.

“By 2019, we plan to be the leading bitcoin payments platform. Also, more importantly, we aim to push microtransactions onto gaming/streaming/content platform and create payment models never before possible.”

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