Merchant Fees and Limits

By Lightning Pay Limited

Updated May 28, 2024


Merchant Transactions via POS or Hosted Payments

Lightning Pay's merchant service works by providing New Zealand merchants a simple way to accept bitcoin as payment, and optionally receive NZD the next business day. The costs we incur for this service are variable, and largely depend on foreign exchange costs, volatility, and the difference between our purchasing and selling volume.

In general, bitcoin that is converted to NZD currently incurs 0% fees for the merchant, while bitcoin that is forwarded to a user wallet will incur a small 0.21% fee. 


Current Fee rates for Lightning Pay's exchange service:

Receive Bitcoin to your Lightning wallet - 0.21% 

Receive NZD to your Bank Account next business day - 0%


General Merchant Limits

Single Transaction Limit: $3,000

Daily Buy Limit: $5,000

Daily Sell Limit: $3,000

Monthly Buy Limit: $20,000

Monthly Sell Limit: $20,000


Single Transaction Dynamics

Our service for exchanging BTC to NZD has a minimum transaction limit, based on the capabilities of our exchange partners, which imposes some limits on how we construct our merchant transactions. Below is a detailed explanation on how this impacts your transactions with your customers. Below are some examples:

Current Minimum Bitcoin Sell Limit ~NZ$5


1) Conducting Transactions while receiving 100% NZD

Explanation: Because the minimum transaction in our exchange is NZ$5, any transaction less than this amount will be forwarded to your lightning address, to your own wallet. You can sell this later at Lightning Pay for NZD after you’ve collected more than NZ$5 in payments from your customers.


2) Receive 50% in BTC to your wallet, receive 50% in NZD

Explanation: Because you are electing to convert half of the bitcoin you receive to NZD, our minimum BTC to NZD order size means that any transaction under NZ$10 will automatically be forwarded to your own wallet for you to sell to NZD at your own convenience.

This is because with these settings, a NZ$5 payment would require that we convert half (NZ$2.5) to Dollars, which is below our limit. Because we can’t execute these instructions, you’ll receive the full amount to your Bitcoin Lightning Wallet to sell later. 

If you receive a payment over NZ$10, you will receive 50% to your lightning wallet, and 50% to your bank account in NZD.


3) User elects to receive 100% of payments to their Bitcoin Lightning Wallet

Explanation: 100% of the payment will be forwarded to your selected Bitcoin Lightning Wallet.