Bitrefill recently announced that it would offer Amazon gift vouchers, effectively helping to open up lightning network transaction to nearly any item. This startup is known for its revolutionary products, which includes the ability to purchase mobile phone top-ups in over one hundred nations across the world. Their new support for gift vouchers from leading brands is a welcome innovation.
Lightning Network Now Comes to Uber, Amazon, And Many More
According to a recent press release, Bitrefill noted that it was always part of its business development plans to offer these vouchers. The company was also among the first crypto businesses to start integrating with the Lightning Network infrastructure. The CEO of Bitrefill stated that merchants have been complaining about the intensive involvement of regular payment processors for bitcoin transactions. He added that the new vouchers would help merchants since Bitrefill would handle the entire user experience supply chain, to the immense benefit of both clients and merchants.
The initial rollout of Bitrefill gift cards targets the major companies, including Amazon US, Hotels.com, Uber, Google Play Store and many others. There are plans to add more companies as clients get to learn and use these gift cards. The Bitrefill vouchers will support payments in several cryptocurrencies including Bitcoin, Ethereum, Dash, Dogecoin, and Litecoin.
Hope for the Lightning Network?
This move was planned in January 2018 after Steam, where Bitrefill offers vouchers, declared that it would halt its support for direct payments in Bitcoin. The Lightning network, which is used by Litecoin and Bitcoin, enables users to make transactions almost instantaneously with nearly no costs. However, the success rates for transactions that are higher than five cents are quite low, hence limiting its integration across many cryptocurrencies.
Kotliar remains bullish about the future of Lighting technology. He believes that the Lighting network could help to future-proof Bitcoin as it will enable users to conduct highly efficient and low-cost transactions.
Bitrefill is striving for a future where people can comfortably live on cryptocurrencies without experiencing a lot of inconveniences. The company has already set up an alert system that will notify them when a business stops accepting direct Bitcoin transactions to ensure clients are not stopping the use of cryptocurrencies like Bitcoin. The plan is to add such companies to its list of potential voucher clients as a way of growing its business and driving bitcoin use forward.