Amazon, the world-famous e-commerce, now allows usage of Bitcoin when making payments via the lightning network.
Moon, a crypto payment processing startup, announced that from this point crypto asset payments are enabled in shops like Amazon. The transfer of funds will occur through a browser extension in BTC, ETH, LTC or BCH. Almost 250 beta users tested the payment option by connecting the browser extension to accounts such as Coinbase. This payment method is meant to be quick and consistent.
“A QR code, which has the lightning invoice, will appear and you will have the ability to pay with your lightning wallet of choice,” explained the startup’s CEO.
However, he refused to say which financial institutions will convert the crypto assets into FIAT. Currently, the company works only with Amazon, although it schedules to cooperate with sites like Domino’s, Target, eBay and Ali Express. By next year, the feature will efficiently operate with all e-commerce sites.
“No direct merchant integration occurs, since we’re integrating with Mastercard and Visa networks and getting a share of fees that are paid by merchants each time they accept a credit card transaction.” The CEO said further.
Moon, the crypto startup, started operating in NY in 2018.