Lightning Payments on Amazon
Cork, Ireland — March 2019 — The online Amazon gift card retailer Bitcart.io last month integrated Bitcoin Lightning payments to it’s e-commerce website. Customers can now avail of millions of items on Amazon and enjoy up to 15% discount paying with Bitcoin on-chain and Lightning network.
Bitcart was founded in 2014 as a bitcoin-to-Amazon exchange. However due to slow confirmation times on the bitcoin network which led to customer dissatisfaction in the first half of 2017, the retailer was forced to drop bitcoin. More details can be found in this Forbes article.
In launching Bitcoin Lightning payments, founder Graham de Barra says, “We began with Bitcoin and I am glad to be able to use it again as how it was intended; fast and secure permissionless payments for people all over the world.”
In the two weeks sine the announcement, there have been more customers using the Lightning Network than on-chain by almost 50%. As expected, Lightning now accounts for the majority of small Amazon orders. Bitcoin on-chain on the other hand remains the payment of choice for all orders over $50. Predictably, this signifies that there is a consumer demand to use Lightning for micropayments while the bitcoin protocol remains the choice for consumers when making larger orders. Time will tell how this trend may change in the coming years ahead for e-commerce.
“The largest barrier for Lightning adoption today is a lack of user-friendly wallets and incentive for consumers to move away from Bitcoin.”
Teaming up with Asia's flagship blockchain developer conference Provenance Summit, happening during Japan Blockchain Week in October 2019, developers and products working with Lightning are urged to apply to speak.
“By reinvesting our profits into translation and educational events we will help spread the adoption of Lightning for both merchants and consumers across the globe. Afterall we are only here for one reason; to replace centralised payments.”
The Bitcart service this month has also extended support to European customers and currently stocks Amazon USA, UK, Germany and France gift cards with 10% discount on all orders. There is no limit as to how many orders a customer can make through the website and wholesale clients are urged to sign up using the contact form.