OpenNode is the first “PayPal” in the history of Bitcoin’s Lightning Network, designed for traders but aimed at consumers.
This new payment processor takes advantage of the high speed of Lightning Network to achieve bitcoin transactions at almost zero commission.
Bitcoin, according to the developers of OpenNode, could become what has not managed to be so far: a daily payment method and not just a store of value.
The new competitor of PayPal and credit cards
OpenNode is in direct competition with credit cards, which in the future could be replaced by fast cryptocurrency payment channels at very low costs.
The application, in the beta phase, is certainly of interest to merchants.
The first 1,500 USD per month earned by the merchant is free of charge, above which a fee of 1% applies.
A nice difference in treatment compared to PayPal and other competitors such as Stripe, although in the case of OpenNode we only talk about bitcoin and fiat payments.
One bitcoin payment processor for any business
The application developed by OpenNode is designed for businesses of any size and sector, designed in a technically simple way to integrate it into e-commerce platforms.
Retail shops are not excluded, for which the young startup in Los Angeles has a related solution.
- Lightning Network options and on-chain payments enabled.
- No chargeback and no fraud.
- Competitive prices to encourage participation by small and large enterprises.
- In-house dashboard to analyze finances from desktops and mobile devices.
- Automatic and manual configurable withdrawals.
- Customizable plugins and easy-to-use APIs for integration with e-commerce platforms.
- Customized integration at the enterprise level.
OpenNode is in beta phase.
Developers work closely with the merchant community to receive advice and software improvements.
Among the first objectives of the roadmap: the development of a plugin for Shopify and add-on for other e-commerce platforms and, finally, the creation of POS enabled Lightning Network to be installed in physical stores.