Sanaa is a chemistry major and a Blockchain enthusiast. As a science student, her research skills enable her to understand the intricacies of Financial Markets. She believes that Blockchain technology has the potential to revolutionize every industry in the world.
The payment method will allow US Shopify merchants to accept Bitcoin transactions from clients internationally as US dollars.
Strike, a digital payments platform based on the Lightning Networks has collaborated with Shopify, Blackhawk Network, and NCR to initiate a new US payment system. This new payment method will enable traders and retailers to instantly accept payments in USD after an exchange with cryptocurrency.
Strike is currently the world’s top-most digital payments platform. The recent deal will begin with online purchases from merchants at Shopify, with point-of-sale payments in several multichain outlets.
The payment method will allow US Shopify merchants to accept Bitcoin transactions from clients internationally as US dollars. According to Chief Executive Officer Jack Mallers, this new payment method, which has been finely ingrained into the clients’ everyday lives, is novel, creative, and top-quality. While addressing a massive audience at the Miami Bitcoin conference on Thursday afternoon, Mallers also presented a video featuring himself that showed its daily applications in any general market.
Between the unanimous applause from the audience, Mallers described how this method can be used in any grocery store or at Whole Foods, Chipotle among others. The Strike collaboration allows numerous options with a wide-ranging experience when compared to using conventional card networks. The technology utilizes the innovative technology of the Bitcoin Lightning Network to enable instantaneous, international, or cash-final transactions and at the same time, cancels any kind of processing charges.
According to a press statement by Strike on April 7th, this amalgamation is available to any customer around the globe with an active Bitcoin Lightning Network-enabled wallet. Los Angeles-based streetwear brand Warren Lotas has been named as one of the initial partners of Strike in this venture. In addition to explaining the use of the integration using a video, Mallers also presented an exhaustive list of top US organizations that, according to him, will be able to receive transactions via this method. Some of them are McDonald’s, CVS, Walgreens, Whole Foods, and Walmart. A few other grocery outlets and restaurants were also a part of this list.
With a powerful addressal to the audience, Mallers owned the fully booked room with a strong speech titled ” The King’s Gambit”. The discourse essentially explained the origin of payments networks and credit cards, while providing a wholesome picture of how card payments were run in people’s everyday lives.
Before his impressive talk, he gave out a small teaser about the big announcement on Twitter while stating that the revelation would be about the association of merchants and retailers to the crypto space. In his report at the Miami conference, Mallers said that the Blackhawk Network is embedded with four hundred thousand storefronts and thirty-seven thousand associates.