The Lightning Network payments on Woocommerce takes off
The Lightning Network payments on Woocommerce takes off

The Lightning Network payments on Woocommerce takes off

By Marco Cavicchioli - 16 Jul 2018

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Lightning Network paymentsOne of the potentially most interesting aspects of the widespread use of Lightning Network is its use as a payment method on e-commerce websites.

In fact, LN offers e-commerce a couple of interesting advantages.

First of all, the absence of commissions. Bitcoin payments are based on the assumption that any commissions that have to be paid to have the transaction validated are to be paid by the customer and not by the recipient of the payment.

Therefore, an e-commerce website receiving a bitcoin payment has no commission to pay.

However, if customers were to find themselves paying even significant commissions, they would most likely prefer to pay in euro. But with Lightning Network the commissions are very low, so that on decent figures are absolutely negligible.

At this point, being able to accept payments via LN on an e-commerce website could become very interesting.

Moreover, with LN payments are immediate and non-reversible, making it even more attractive for those who operate an e-commerce website.

A few days ago, Acinq, a development company that makes its own payments through LN, announced that it has integrated it into Strike’s API so that it can also be used in plug-ins for e-commerce websites.

Woocommerce is here, the main e-commerce WordPress plugin: on the plugin for Woocommerce that allows adding Lightning Network as a payment method is available.

The installation is not easy, so if you want to use it is better to have a technician to help you set it up. The plugin allows you to accept Bitcoin payments on your own LN wallet.

However, this plugin itself retains 1% of the payment amounts received as a commission cost for the execution of the payment.

It cannot be excluded that in the future there may be some completely free of charge.

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Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded and the Facebook group" Bitcoin Italia (open and without scam) ".

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