[2019-01-25] New Zap Point-of-Sale App Enables Merchants to Accept Lightning

[ABCbits]

A new point-of-sale (PoS) app released by Zap allows merchants to independently accept transactions on the Lightning Network.

Jack Mallers, the founder of Zap, described some of the properties of this new app on a recent Twitter thread. Mallers also spoke with Bitcoin Magazine to elaborate on some of the inner workings of the project.

Full news : https://bitcoinmagazine.com/articles/new-zap-point-sale-app-enables-merchants-accept-lightning/


The device price will be slightly under $200, a bit expensive but the device included Bitcoin Core, BTCpay server and Zap (obviously) which allow merchants to have full control over their money and based on the preview on twitter, it have good UI and UX.

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[vit05]

he went on to state that he’s seen a lot of demand from people in specific industries, “like marijuana for example, that struggle with banking relationships and are very interested in Zap PoS.

This is interesting. I still believe that Bitcoin's great opportunities lie in the tourism industry and in the product industry that finds it difficult to establish relationships with banks. As is the case with marijuana. And now thinking better, if society moves in the direction of more liberal policies, with more individual freedoms, it would be great for Bitcoin.

Banks are conservative over many things to minimize the risks. A new industry that allows for free transit of money in a more open society can emerge against banks. Today, the only possible project in this direction is cryptocurrency.

[BitHodler]

Banks are conservative over many things to minimize the risks. A new industry that allows for free transit of money in a more open society can emerge against banks. Today, the only possible project in this direction is cryptocurrency.

People think banks will have a hard time catching up, which might look like so initially, but whenever they start offering merchant side services, Coinbase and BitPay will lose market share for sure.

Banks have the best possible position to launch these services due to all the licenses they already have. They can also close bank accounts of exchanges just to grant themselves an even bigger advantage.

It wouldn't even surprise me when banks start setting up LN nodes to generate hub fees, and why wouldn't they? Banks can adapt to crypto just as easily as people here can adapt to crypto.

[milewilda]

Banks are conservative over many things to minimize the risks. A new industry that allows for free transit of money in a more open society can emerge against banks. Today, the only possible project in this direction is cryptocurrency.

People think banks will have a hard time catching up, which might look like so initially, but whenever they start offering merchant side services, Coinbase and BitPay will lose market share for sure.

Banks have the best possible position to launch these services due to all the licenses they already have. They can also close bank accounts of exchanges just to grant themselves an even bigger advantage.

It wouldn't even surprise me when banks start setting up LN nodes to generate hub fees, and why wouldn't they? Banks can adapt to crypto just as easily as people here can adapt to crypto.

Majority do really have this kind of insight which is actually true and i completely agree with your points where i do really expect that Banks can easily terminate nor get involved
if they do see an opportunity and do take advantage over crypto.They do really have the capability if they wanted to.We might have high hopes with crypto but i dont really expect too much
because sooner or later they would really make such actions.

[aoluain]

great idea and great for merchants, With this ZAP app
merchants can avail of no third parties, and smaller fees.
I like that it can operate independent to traditional
payment machines and outside the banks control.

The next move is making merchants aware that it exists.

"is very similar to a Nodl (nodl.it) device............................
This allows the merchant to be fully validating, always online, and not reliant on any third party
"

"nodl enables you to connect to Bitcoin and the Lightning Network so that you can verify and process
payments without having to rely on any intermediaries. nodl runs uncensored, you are free to connect
with anyone, anywhere, anytime. It enables you to operate near-instantaneously at a fraction of the
cost of doing business with classic payment options"

[1Referee]

The device price will be slightly under $200, a bit expensive but the device included Bitcoin Core, BTCpay server and Zap (obviously) which allow merchants to have full control over their money and based on the preview on twitter, it have good UI and UX.

It's not really that expensive. For that amount you get to skip all the hassle and time consuming tweaking, plus the fact that being able to accept Lightning payments is quite a powerful way to market yourself as business. It will definitely make you appeal to a new group of customers that you otherwise wouldn't have.

Bitrefill announced that their Lightning payments account for more transaction activity within their services than all altcoins combined do, which is quite a powerful indication of the potential we're dealing with here.

https://www.forbes.com/sites/ktorpey/2019/01/23/bitcoin-lightning-network-payments-have-already-surpassed-all-altcoins-at-this-retailer/#2c165d833992

[squatter]

he went on to state that he’s seen a lot of demand from people in specific industries, “like marijuana for example, that struggle with banking relationships and are very interested in Zap PoS.

This is interesting. I still believe that Bitcoin's great opportunities lie in the tourism industry and in the product industry that finds it difficult to establish relationships with banks. As is the case with marijuana.

Bitcoin definitely has potential in this niche. I'm really surprised to hear there's any interest in Lightning from those in the marijuana industry, though. I've lived in or visited multiple medical/recreational marijuana states and been to lots of shops, dealt with brokers and sales reps. Never once have I seen anyone accepting Bitcoin.

Like I said, there's potential here, but not until there is significantly more adoption. The entire supply chain still runs on cash. Until businesses can pay their suppliers with BTC and consumers want to pay with BTC, it's just not feasible.

[squatter]

The device price will be slightly under $200, a bit expensive but the device included Bitcoin Core, BTCpay server and Zap (obviously) which allow merchants to have full control over their money and based on the preview on twitter, it have good UI and UX.

It's not really that expensive. For that amount you get to skip all the hassle and time consuming tweaking, plus the fact that being able to accept Lightning payments is quite a powerful way to market yourself as business. It will definitely make you appeal to a new group of customers that you otherwise wouldn't have.

Of course i fully realize that, but i think it's a bit expensive compared with other Point-of-Sale on my third-country. Make appeal to new group of customers sounds nice, but IMO i doubt it's big compared to other group of customer.

It's a large initial cost, but there are no ongoing processing fees like with conventional POS/credit card terminals -- 1.51% plus $0.10 per transaction paid to Visa, 2.9% plus $0.30 paid to Paypal, etc. BTCPay Server has no fees, so those costs can be avoided.

[rodel caling]

Banks are conservative over many things to minimize the risks. A new industry that allows for free transit of money in a more open society can emerge against banks. Today, the only possible project in this direction is cryptocurrency.
[/quote]


Since from the start banks are affraid to involve in bitcoin includes whole crypto because they of the banks owners bitcoin is threat for their bank business.
And thanks after all that time some banks will understand the importance of digital currency it's good parthners both currency fiat and bitcoin.