Merchants in NZ can now accept bitcoin at point of sale and receive dollars in their bank accounts!
Bonus: they can even choose what percentage of dollars to Bitcoin to receive.
One of our goals with Lightning Pay was to make it a no-brainer for merchants to start accepting Bitcoin for payment. To do this we knew we had to guarantee a rate to the merchant and to remove all volatility on the Bitcoin price so that they knew when they dialed $50 into their terminal and recieved the bitcoin that they could be sure that they were getting $50 into their bank account.
With this service merchants can accept Bitcoin without any of the problems of accepting bitcoin
- No volatility on the price
- No complicated tax calculations
- No complicated accounting problems
We use the lightning network because it gives us the ability to move money instantly and therefore once we have been paid we can sell that bitcoin immediately and can therefore guarantee a price. Before we could build the merchant point of sale app we realised we first had to build the rails with which we could exchange the value immediately and we released this service to the market on the 18th of March.
Since then we've been working hard to get our point of sale app ready to launch and finally we're here. Connecting the Point of Sale app is super easy with a scan of a QR code.
We also have an awesome feature, the split-payment slider! Merchants can select in their profile exactly what percentage of the bitcoin they want to sell immediately and what percentage they wish to keep in Bitcoin.
How do you get started? It's easy - register and chose the option "I am registering as a company" when prompted