Evolve Markets

OpenNode onboarding merchants for bitcoin Lightning Network processing

OpenNode, a new protocol developed for bitcoin payment processing on the Lightning Network is now launching. Lightning enables merchants and users to transact bitcoin instantly with almost zero fees — allowing bitcoin to be both a store of value and an efficient medium of exchange.

By bridging the technical complexities of the protocol with an intuitive workflow, OpenNode believes paying with bitcoin will become easier than paying with a credit card. To be inclusive of all businesses, OpenNode arrived at one pricing model: the first $1500 in a month of revenue is free, anything after that is 1%.

OpenNode is for all businesses

All of the OpenNode tools and features are built around the idea that using bitcoin should be easy and empowering for both merchants and customers. This means moving away from traditional models that create a barrier to entry with high transaction fees or complicated technical integrations.

Features include:

  • Lightning-enabled and on-chain payment options
  • No chargebacks and zero fraud
  • Competitive pricing that allows businesses small or large to participate
  • In-house dashboard to analyze your finances from desktop or mobile
  • Configurable automatic and manual withdrawals
  • Customizable plugins and easy-to-use APIs for your eCommerce platform
  • Enterprise level custom integration

The OpenNode team said:

“We’re a group of Lightning Network explorers, designers, and bitcoin developers, passionately creating tools which will help catalyze bitcoin’s network growth and accelerate adoption. We understand that product accessibility designed around sound user experience will greatly expedite this process. We’ve worked on projects encouraging bitcoin adoption for several years; including our current contributions to one of the first-ever lightning network wallets, Zap. In sharing OpenNode, we want to push deeper by ensuring businesses of all sizes and backgrounds, can take advantage of all that bitcoin has to offer.”

Current Roadmap

  • Testing with a community of merchants and receiving feedback to further cultivate the best product.
  • Concentrate on scaling lightning and services by onboarding as many merchants as possible and securing essential partnerships.
  • Develop plugins for Shopify and other e-commerce platforms so lightning will be readily available with current web stores.
  • Discuss with Point of Sale (PoS) businesses and physical stores to create lightning enabled devices.
  • Look to exchanges to facilitate fiat conversion and power them with lightning network ready services.

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