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Cryptocurrencies

Crypto payment processing startup enables users to shop on Amazon using Lightning

Tuesday 23 April 2019 | 10:08 AM CET

Moon, a crypto payment processing startup, has announced that any Lightning-enabled wallet can now be used through Moon’s browser extension.

As a result, Bitcoin spenders can now use the Lightning network to shop at ecommerce sites like Amazon. Before this Lightning feature, roughly 250 beta users already used Moon to spend crypto on ecommerce sites by connecting the browser extension to exchange accounts like Coinbase, according to CoinDesk.

Moon’s CEO added for the online publication that the extension will pop up a QR code coupled with the Lightning invoice to enable paying with a Lightning wallet. Moreover, there is no direct merchant integration as the startup also manages payment channels and offers an interface for sending payments.

Moon has been integrating with the Visa and Mastercard networks to process payments and the startup gets a cut of the interchange fees that merchants pay every time they receive a credit card transaction. The company envisions that by 2020 the lightning-enabled feature should work on almost any ecommerce site, regardless of whether that platform accepts Bitcoin directly.

Moon was founded in New York in 2018 and grew to a staff of three people with just USD 100,000 invested by the Entrepreneurs Roundtable Accelerator.

More: Link
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