Pay with Bitcoin Lightning on Amazon: Moon makes it possible

A new browser add-on now offers the ability to pay via Bitcoin Lightning Network at Amazon and some other online retailers.

The functionality is provided by a plugin for the Google Chrome browser. Plugins for Opera as well as the data-sparing Brave Browser are already being planned.

Behind it lies the payment service provider Moon, who has the service still in the beta phase. The testers had to connect the accounts with the Bitcoin exchange Coinbase.

At the moment, you can only buy from Amazon, but the plugin shows that the pizza supplier Domino’s is already planning to join. Already now you can pay with Bitcoin in certain delivery companies of the pizza supplier. The competition in the form of Lieferando has already made this possible for two years.

With Amazon and Domino’s Pizza, the developers of Moon have chosen two of the most transaction-rich online retailers according to their own data.

At the end of the payment process, the Moon extension then displays a QR code that can be used to unlock the transactions. Alternatively, the process can be completed with the Lightning-enabled Wallet of Choice.

As light and fast as a flash

A few weeks ago, researchers discovered that the Bitcoin Lightning Network is more scalable than expected. Through the Lightning Network, transactions are collected in a separate invoice and written as such – after a defined period of time – in the Bitcoin Blockchain with just one transaction. Similar to the pub, when the customer gets a lid from the host and settles it with a payment at the beginning of the month.

No direct dealer integration

Currently, the purchases are not yet directly against Bitcoin over the counter. A payment service provider converts the cryptocurrency into Fiat.

    There is no direct dealer integration,

Moon CEO Kruger told Coindesk, clarifying that Moon also manages payment channels and provides only a convenient and easy-to-use interface for payments. The company also recommends some Lightning-enabled Bitcoin Wallets on its website.

According to Kruger, the company, which was founded in 2018, is also financed by transaction fees for classic credit cards:

  “We integrate ourselves into the Visa and MasterCard networks and receive part of the interbank fees.

Europe sticks to SEPA – still

These are due when a merchant accepts payment by credit card. How the transactions will be financed or implemented in the future on the European market – and especially on the German market – remains unanswered. So far, SEPA credit transfers and direct debit procedures are still prevalent in local latitudes – both on the dealer side and on the customer side.

Last year, the startup started with a $ 100,000 cash injection and three men in New York City. The jump-start came from the Entrepreneurs Roundtable Accelerator led by Murat Aktihanoglu.