To explain in brief, bitcoin payments processing means to provide tools and services which enable merchants, service providers, and other businesses to accept their payments in cryptocurrency instead of traditional payment options.
It works similar to processing payments via a credit or debit card, with the only difference being that the intermediate layer (or participant) here is Bitcoin’s decentralized public ledger rather than a centralized financial institution. Such payment solutions are available in online and offline mode at participating vendors and provide instant solutions without the merchant or the customer having to worry about the technical details of the process.
At present, all major Bitcoin payment processing companies provide multiple platforms for merchants and business owners to receive their payments in bitcoin. These platforms include payment through the point of sale (POS) systems, integration with e-commerce platforms, and even from within popular billing and accounting software.
Bitcoin, time and again, has proved to be more secure and cheaper compared to the traditional monetary options. It has also demonstrated peculiar advantages including being a better monetary exchange for the goods and services they provide. These advantages include:
In recent times, man Bitcoin payment processors have emerged that enable merchants and businesses to accept payments in BTC. Most of them are cheaper and faster than traditional payments, but none provide instant transaction confirmation with near-zero fees. That is precisely what OpenNode has been able to achieve.
The company aims to accelerate bitcoin adoption among interested parties thus allowing them to experience the power and speed of the Lightning Network. It envisions a healthy network using bitcoin that can demonstrate transparency, security, and speed in a bid to become a global Bitcoin payment processing service provider.
The team behind OpenNode are a group of bitcoin enthusiasts, lightning network explorers, and designers who have worked tirelessly to empower every individual with the power of bitcoin.
Apart from the features mentioned, OpenNode has other traits that keep it a notch ahead of its competitors. These include:
Technology continues to evolve and provide new solutions that enrich next-generation business experiences. OpenNode seems to be among those ranks that can create a win-win situation for both merchants and users by providing a seamless and hassle-free way to transact in bitcoin.
Looking at the big picture, it will also help in the adoption of the premier cryptocurrency on a larger scale as people will use the cryptocurrency for day-to-day transactions.
Will Bitcoin become commonplace in the next five years? Let us know your views in the comments section.