OpenNode – Lightning Network Based Bitcoin Payment Processor
One of the main reasons for people to shy away from using Bitcoin for payments is the delay in transaction times. Lightning Network has already developed the technology to resolve the issue. Now, this technology is being taken to masses by OpenNode, which is launching the world’s first lightning network enabled Bitcoin payment processor.
The facility enables merchants to accept Bitcoin without any extra fees. More importantly, the transactions will be completed instantaneously. OpenNode is hopeful that the facility enables Bitcoin payments with relative ease compared with credit card payments.
OpenNode has built the tools and features with an aim to make Bitcoin payments easy for users and simple to handle for merchants. The facility removes all barriers for use by consumers and merchants. Furthermore, the payment processor does not charge exorbitant fees or require complex integration process.
The below-mentioned features provided by OpenNode enables merchants to have complete control over their business.
- Lightning enabled and on-chain payment options.
- No chargebacks and zero fraud.
- Competitive pricing that allows businesses small or large to participate.
- In-house dashboard to analyze finances from desktop or mobile.
- Configurable automatic and manual withdrawals.
- Customizable plugins and easy-to-use APIs for your eCommerce platform.
- Enterprise level custom integration.
OpenNode consists of a team of Lightning Network explorers, Bitcoin developers, and designers who are committed to fuel the growth of Bitcoin network and accelerate adoption. The team was involved in the creation of the first lightning network wallet Zap. OpenNode wants to ensure that business of all sizes and backgrounds take complete advantage of Bitcoin network.
Presently, OpenNode is testing the product with its community of merchants. If necessary, the team will perform necessary improvements and then focus on bringing as many merchants as possible, under its umbrella. The team is also having plans to develop plugins for Shopify and other ecommerce platforms. That will allow webstores to accept Bitcoin payments readily. The company is also in talks with PoS (Point of Sale) businesses and retailers to develop lightning enabled devices.
Open Node is currently inviting inquiries from merchants. As a welcome offer, OpenNode will not charge any fees for the first $1500/month. After that, a charge of 1% will be levied. Still, it is nothing compared what credit card companies charge directly and indirectly.