Stripe And Primer Go Lightning: New Bitcoin Payment Solutions Via OpenNode

The future is now. Stripe and Primer have joined forces with OpenNode for separate payment solutions. the The Stripe application will allow businesses to “instantly convert any amount in their balance to Bitcoin or automatically convert incoming payments in part or in full.” For their part, online and meat-space merchants across the UK will have the ability to accept bitcoin payments via OpenNode and Primer. All of these transactions will be powered by the Lightning Network.

First, Jack Mallers announced Flash payments in half the point of sale terminals across the United States. Last week, CoinCorner launched the Bolt Card on the Isle of Man. And now, separate announcements from Primer and Stripe appear to point to a future loaded with Lightning Network payments. Are we witnessing an evolution of bitcoin from store of value to medium of exchange?

Primer and OpenNode’s Lightning payment solution

First, Primer is “a UK startup that has built a drag-and-drop framework to help merchants easily build payment stacks to sell online.” Obviously they needed bitcoin. And by “they” we mean all of Primer’s customers. According to the press release“Merchants using Primer can now use a simple one-click login to add Bitcoin payment acceptance to their payment experiences.”

How many people will the Primer and OpenNode partnership expose to bitcoin? Payment processes, in general, are becoming increasingly complex. Bitcoin fixes that. However, it must first be part of the payout stack.

BTC price chart for 05/25/2022 on Kraken | Source: BTC/USD on TradingView.com

Dollars in Bitcoin with Stripe and OpenNode

According to to the press release, the app will provide “a simple and secure way to convert incoming payments to Bitcoin in real time, automatically or on demand.” In other words, businesses will be able to “gain Bitcoin exposure directly from the Stripe dashboard.” Apparently, Stripe will showcase new developments in “Sessions”, their annual user conference.

Additional details from the press release:

“Millions of businesses around the world are accepting payments through Stripe, a leading financial infrastructure platform, which will launch Stripe Apps and Stripe App Marketplace in the coming weeks. The OpenNode app will be part of the launch of the public beta.”

Quotes Stripe, Primer and OpenNode

One good thing about press releases is that they contain solid quotes from the main characters involved in the story. If they do their job well, these comments provide additional insight into the subject matter. Let’s see what we have today:

Josh Held, Head of Strategy at OpenNode, said:

“OpenNode has long believed in the promise of Bitcoin and Lightning powered payments, and demand is now growing exponentially. Our partnership with Primer will allow various businesses, from large multinationals to sole proprietors, to integrate bitcoin payments for their customers.

About Stripe, he also said:

“Bitcoin is the most widely adopted digital currency in the world, and we’re excited to be working with Stripe to make the currency available to the platform’s many businesses.”

For his part, Gabriel Le Roux, co-founder of Primer, said:

“We are delighted to partner with OpenNode. For the first time, merchants around the world have the ability to accept Bitcoin payments at checkout in just a few clicks, without code. Primer and OpenNode are passionate about making Bitcoin an easily accessible payment option for merchants, through the best payment experience available on the market.

These two very different solutions will expose many people who may not be familiar with bitcoin to the Lightning Network. What will be their impact on the world of payments? Also, what impact will they have on the bitcoin network as a whole? It will take a few years for clear results. However, given that this is the third and fourth Lightning Network payment solutions Bitcoinist has reported on in a month, an unstoppable trend could emerge.

Featured Image by Ron van den Berg from Pixabay | Charts by TradingView


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Elaine R. Knight