You Can Now Shop With Bitcoin on Amazon Using Lightning (#GotBitcoin?)
Bitcoin spenders can now use the lightning network to shop at e-commerce sites like Amazon. You Can Now Shop With Bitcoin on Amazon Using Lightning (#GotBitcoin?)
Crypto payment processing startup Moon announced today that any lightning-enabled wallet can now also be used through Moon’s browser extension. Before this lightning feature, roughly 250 beta users already used Moon to spend crypto on e-commerce sites by connecting the browser extension to exchange accounts like Coinbase.
Moon CEO Ken Kruger told CoinDesk:
“[The extension] will pop up a QR code and it will have the lightning invoice, which you could also copy and paste if you can’t use the QR code for some reason, and you’ll be able to pay with your favorite lightning wallet.”
To be clear, Amazon itself never touches bitcoin. Kruger declined to specify which traditional financial institutions are helping convert the bitcoin to fiat on the backend so that Amazon merchants actually receive fiat currency for their wares. However, Kruger added that by 2020 the lightning-enabled feature should work on almost any e-commerce site, regardless of whether that platform accepts bitcoin directly.
“There’s no direct merchant integration,” Kruger said, clarifying that Moon also manages payment channels and merely offers a simple interface for sending payments.
“We’re integrating with the Visa and Mastercard networks and we get a cut of the interchange fees that merchants pay every time they receive a credit card transaction,” he said.
Stepping back, Moon was founded in New York last year and grew to a staff of three people with just $100,000 invested by the Entrepreneurs Roundtable Accelerator. The accelerator’s managing director, Murat Aktihanoglu, told CoinDesk he sees Moon as one of the “anchor” crypto businesses with lucrative potential over the next five years.
“We invested in Moon as a long-term portfolio company,” Aktihanoglu said.
In the meantime, Kruger said his startup is looking to raise a Series A in 2019 and continue learning from user behavior.
“There’s a lot of opportunities to help solve some of those usability problems and getting people onto the lightning network, increasing adoption in that way,” Kruger said. “We’re going to engage with other folks in the lightning community to see what people are doing, what they’re working on and if there are any significant gaps. We’d love to step in and help whenever possible.”
Opera Browser Adds Bitcoin Payments To Android Update
The Opera web browser has added bitcoin e-commerce and TRON integration to its Android app, the company said.
The enhanced crypto functionality will let Opera for android users make bitcoin payments directly from its built-in digital wallet and interact with decentralized apps (dapps) on the TRON blockchain. It could increase crypto visibility among the browser’s claimed 300 million users.
Charles Hamel, Head of Crypto at Opera, told CoinDesk:
“Most people have heard of bitcoin and thus we saw it as important to support it and make this feature more familiar to a larger group of people.”
Of the top-five browsers chrome, safari, Samsung Internet, UC browser and Opera – Opera remains the only one to have digital wallet integration. Now it is another tech move by one of the web’s oldest apps.
Though technically a legacy product (Opera launched as a research project over two decades ago) the Norway-based web surfer pivoted towards crypto in the past year, regularly expanding digital wallet functionality to its mobile and desktop offerings.
In July 2018, Opera for Android piloted an ethereum digital wallet as a step towards “Web 3.0:” the vision of a decentralized future internet built on a blockchain. It then began studying blockchain “growth opportunities” with financial services advisors Ledger Capital that October.
Since then, Opera introduced a “web 3 ready” android browser, a crypto-friendly iOS app, a desktop browser with native digital wallet support, and partnered with a Swedish crypto broker to sell Scandinavians discounted ETH.
Hamel told CoinDesk that the apps are now synchronized and optimized for adoption of a future web3. But he said that adding bitcoin was a challenge, as much because of its differences as its use-cases.
“Bitcoin is a completely different beast that requires its own infrastructure and has a payment-focused usage scenario.” You Can Now Shop,You Can Now Shop,You Can Now Shop,You Can Now Shop,You Can Now Shop