Start-up to Enable Bitcoin Transaction on E-Commerce Sites

Start-up to Enable Bitcoin Transaction on E-Commerce Sites

A start-up project known as Moon has unveiled a web-browser extension that will allow shoppers to make purchases on e-commerce sites directly from their lightening network bitcoin wallets.

This will mean that users of the service can make transactions and buy products on sites, such as Amazon, with Bitcoin. However, the site will not handle or process the crypto themselves, rather Moon’s processes will do that for users and convert the currency into fiat before settling the payment at the online shopping venue of choice.

Thus, the service will have no direct integration with merchants, instead, they will be working together with banking providers. As per their CEO and founder, Ken Kruger, “We’re integrating with the Visa and Mastercard networks and we get a cut of the interchange fees that merchants pay every time they receive a credit card transaction.”

News about the service came from their Twitter page yesterday afternoon.  Where they noted that the product “is still being reviewed by the Chrome web store.”  However, they are ready to go otherwise, with a plan to launch imminently after they have gained approval from Chrome.

Users will then be able to equip the extension to their browser and then start purchasing via the lightning network, which opens users’ payment channels and keeps the majority of transaction off-chain.

When they make transactions, users will be provided with a QR code containing a lightening network invoice, before being taken back to the original page for confirmation. Sounds both very simple and helpful to us.

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