Flexa, the leading provider of the fastest and most fraud-proof payments network in the world, announced that it is introducing Lightning Network payments to Flexa merchants in stores, in mobile apps, and online. The integration builds upon the company’s recently introduced “Pay with Flexa” platform, representing the first fully compliant and fraud-proof solution for merchants to receive bitcoin via Lightning.
Lightning Network enables payments to be processed faster and more privately than they would natively on the Bitcoin blockchain, specifically using an off-chain “payment channel” protocol. Lightning’s usage increased among bitcoin holders in recent years. Introducing Lightning payments will enable merchants to receive payments from more bitcoin holders than ever before, including users of popular and soon-to-be-released Lightning-enabled wallet apps such as Éclair and Chivo.
“Flexa is committed to enabling pure-digital payments for as many merchants and as many of their customers as possible,” said Tyler Spalding, CEO of Flexa. “The Lightning Network and Flexa share the same goals of making digital asset payments more user-friendly, more private, efficient, and accessible for people all over the world. We’re delighted to begin accepting Lightning payments network-wide, and we look forward to enabling merchants to receive payments through additional Layer 2 scaling solutions and native blockchains in the near future.”
Flexa-powered Lightning payments are currently live for select partners and merchants in El Salvador, and will be accessible to all Flexa merchants in the coming weeks. Merchants looking to begin accepting Flexa-powered digital currency payments can explore Flexa’s integration offerings for more details.
The Flexa network has been growing rapidly ever since its launch two years ago, as consumers increasingly demand digital currencies as a means of payment. Answering this expansion, Flexa plans to hire for dozens of new roles across design, product, engineering, and operations.
In May, Flexa announced the expansion of its digital currency acceptance offering to include a suite of eCommerce plug-ins that enable merchants to instantly accept digital currencies via their online retail channels. In the same month, Flexa also became the first completely carbon-neutral payments network.