The e-commerce platform Shopify has partnered with OpenNode to enable Lightning Network payments for its more than 500,000 merchants.

robots

twitter:card

Shopify Merchants Can Now Accept Lightning Network Payments With OpenNode

twitter:description

Shopify Merchants Can Now Accept Lightning Network Payments With OpenNode - Bitcoin Magazine

twitter:title

https://admin.bitcoinmagazine.com/wp-content/uploads/2019/08/Untitled_Artwork-4.jpg

twitter:image

Adoption &amp; Community

Payments

Lightning network

Merchants

Opennode

shopify

bitcoin

e-commerce

education

experience

growing

intend

lightning

lightning network

merchants

network

You can now use the Lightning Network to shop on stores powered by Shopify.



The e-commerce platform now features a Bitcoin mainnet and Lightning Network plug-in for its more than 500,000 merchants, courtesy of <a href="https://bitcoinmagazine.com/articles/bitcoin-payment-processor-opennode-gets-125m-investors">OpenNode</a>. On-chain payments on Shopify have been possible for sometime through <a href="https://bitcoinmagazine.com/articles/bitpay-has-processed-37-million-of-bitcoin-donations-since-2017">BitPay</a>, but this recently struck partnership is the first to bring the promise of cheap, split-second Lightning payments to the platform.



"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," OpenNode CEO Afnan Rahman told Bitcoin Magazine.



One of the newest entrants to the Bitcoin payment processing arena, OpenNode has focused intently on the <a href="https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-building-a-bidirectional-payment-channel-1464710791">Lightning Network</a>. With $1 million and some change in funding from Draper Associates, the company has sought to accelerate Lightning adoption and, <a href="https://bitcoinmagazine.com/articles/opennode-ben-strike-educational-partnership-to-spur-lightning-adoption">as a recent partnership</a> with the Blockchain Education Network indicates, to foster education and development on Bitcoin’s growing payment layer.



"It is important to note that we are and always will be a Bitcoin-only platform and we intend to remain on the cutting edge of the Lightning protocol," Rahman said.



It has also integrated with other e-commerce gateways OpenCart, PrestaShop and WordPress’ WooCommerce. In addition to being in step with the Lightning Network’s growth, these integrations fit into the growing trend of bitcoin acceptance by merchants and buyers as a payment option. <a href="https://www.visualcapitalist.com/the-future-of-crypto-payments-in-the-retail-market/">According to Chainalysis</a>, this figure has increased from $10 million in monthly payments to $150 million in six years.



For each of its e-commerce partners, OpenNode provides documentation and APIs to integrate its payment portal as an extension. The service is compatible with all Bitcoin wallets, whether they are based on Lightning or on-chain. Merchants can also mediate bitcoin’s volatility by converting to fiat instantly at point of sale; this feature is available for USD, GBP, EUR, AUD, MXN and BRL.&nbsp;



For merchants interested <a href="https://app.opennode.co/signup">in using OpenNode</a> for bitcoin payments, the platform offers feeless transactions for up to the first $10,000 in sales.

Bitcoin Magazine provides news, analysis, information, commentary and price data about Bitcoin.

Bitcoin Magazine

Colin is an associate editor and staff writer for Bitcoin Magazine. He&#39;s proud to call Nashville his home, where he lives with his family and doesn&#39;t eat hot chicken as much as you might think.

Colin Harper

Shopify Now Accepts Lightning Network Payments &raquo; Bitcoin Magazine

You can now use the Lightning Network to shop on stores powered by Shopify. The e-commerce platform now features a Bitcoin mainnet and Lightning Network plug-in for its more than 500,000 merchants, courtesy of OpenNode. On-chain payments on Shopify have been possible for sometime through BitPay, but this recently struck partnership is the first to bring the promise of cheap, split-second Lightning payments to the platform. &quot;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,&quot; OpenNode CEO Afnan Rahman told Bitcoin Magazine. One of the newest entrants to the Bitcoin payment processing arena, OpenNode has focused intently on the Lightning Network. With $1 million and some change in funding from Draper Associates, the company has sought to accelerate Lightning adoption and, as a recent partnership with the Blockchain Education Network indicates, to foster education and development on Bitcoin&rsquo;s growing payment layer. &quot;It is important to note that we are and always will be a Bitcoin-only platform and we intend to remain on the cutting edge of the Lightning protocol,&quot; Rahman said. It has also integrated with other e-commerce gateways OpenCart, PrestaShop and WordPress&rsquo; WooCommerce. In addition to being in step with the Lightning Network&rsquo;s growth, these integrations fit into the growing trend of bitcoin acceptance by merchants and buyers as a payment option. According to Chainalysis, this figure has increased from $10 million in monthly payments to $150 million in six years. For each of its e-commerce partners, OpenNode provides documentation and APIs to integrate its payment portal as an extension. The service is compatible with all Bitcoin wallets, whether they are based on Lightning or on-chain. Merchants can also mediate bitcoin&rsquo;s volatility by converting to fiat instantly at point of sale; this feature is available for USD, GBP, EUR, AUD, MXN and BRL.&nbsp; For merchants interested in using OpenNode for bitcoin payments, the platform offers feeless transactions for up to the first $10,000 in sales.

Shopify Now Accepts Lightning Network Payments

Colin is an associate editor and staff writer for Bitcoin Magazine. He's proud to call Nashville his home, where he spends his days shouting at peddle taverns and trying to find affordable parking downtown. If it wasn't already obvious, he holds bitcoin.

description

max-snippet:-1, max-image-preview:large, max-video-preview:-1

Tags

shopify

Shopify Merchants Can Now Accept Lightning Network Payments With OpenNode