[2019-03-14] Bitfury Integration to Bring Bitcoin Lightning Payments to More...

[bL4nkcode]

Bitfury Integration to Bring Bitcoin Lightning Payments to More Merchants

Bitfury announced Thursday that it has integrated its web-based lightning network Peach Merchant API (application programming interface) with HadePay’s platform, allowing businesses to accept payments over the lightning network and “improving the efficiency and lowering the costs” of bitcoin transactions.

After payment is made, merchants can “immediately” convert bitcoins into another currency through HadePay’s platform, Bitfury said.

https://www.coindesk.com/bitfury-hadepay-team-up-to-bring-faster-bitcoin-payments-to-merchants

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[squatter]

I've never heard of HadePay. Looking at their site, they should probably hire a new web designer. But their model seems pretty cool and it would be nice to see them gain some market share. It seems like they set up merchants for POS terminals with all the major processors (credit cards, Paypal, Square, Apple Pay) and then also with Bitcoin and LN capability. They process cryptocurrency payments at a flat 1% -- I think that's the same as Bitpay.

[joniboini]

HadePay apps in Google Play Store has only been downloaded for around +1k times. Looks like this payment processor is still new, or not really a major player in the payment industry. Nevertheless, more adoption news I suppose?

[BitHodler]

Nevertheless, more adoption news I suppose?

That. It's very difficult to compete with the big boys due to how much of an advantage they have in terms of marketing and web ranking. If you search for it, the first one to pop up is BitPay.

Their terms and everything seem appealing enough to merchants, and their fee is only 1% and not 3-4% in case of credit cards and PayPal. Another thing is that politics involving Bcash isn't known by new entrants.

I welcome every attempt to rip the market open and see fair competition lead to better and cheaper services. The only thing is that these payment processors need to work on is their banking in order to really take over.

BitPay is one of the very few ones that's licensed to actually offer its services to US merchants.

[btyco]

Lots of bit payments being offered. Check out bitpanda which is another option for fiat crypto trading. This is all proof that crypto is here to stay so bitfury is simply offering a great service at the right time

[1Referee]

Looks like this payment processor is still new, or not really a major player in the payment industry. Nevertheless, more adoption news I suppose?

It's a startup, so it doesn't surprise me there.

The thing about these relatively new players is that they offer Lightning payments, and this is something BitPay can't compete with, so they have a massive advantage here. If you also add that it allows merchants accepting Lightning to generate some free press, it becomes even more interesting for them to actually partner with these new players.

I'm sure that BitPay won't switch to Lightning, so this will eventually end up costing their first mover advantage.