One of the largest payment processing companies globally, Stripe, has announced it will start supporting Bitcoin payments. The move will be enabled by OpenNode, a Bitcoin payments infrastructure company.
Stripe to allow merchants to convert payments to Bitcoin
The OpenNode app is situated on the Stripe app marketplace. Users on the app will be able to change their fiat payments into Bitcoin. The OpenNode app is based on the Stripe app marketplace.
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The integration will allow businesses to set up an automatic amount of their payments converted into Bitcoin. Besides automation, there will also be a manual process where users can choose the amount they want to convert into Bitcoin.
The app will provide a clear dashboard that users can easily access to enable a seamless way to use the platform. Businesses will view their Bitcoin wallets and the conversion rates by accessing the application. The application will also allow businesses to connect to their bank accounts to make it easy and accessible for people to convert their Bitcoin into fiat.
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A split-payment feature on the app will also support the automatic conversion of fiat currencies into Bitcoin. The app will prompt businesses to select it when the initial setup process is activated.
Businesses that decide not to create a split conversion initially can go back to the app setting to enable this feature. This creates an ease of process that comes in handy for businesses that do not want to launch the feature at first.
Stripe unveils an app marketplace
Stripe also announced the launch of an app marketplace. The marketplace will support companies by promoting the creation of a customer user interface. The platform will streamline the workflow process while promoting data syncing compatibility between the participating partners and Stripe.
Stripe also uses an open application programmable interface (API). Developers on the platform can start creating applications that have integrated Stripe. The bill charged for these applications will be straightforward. The billing will apply to businesses that want to build on Stripe. According to the company, Stripe applications do not currency provide billing for apps.
However, the apps launched on the platform can be either free or paid. At launch, the companies responsible for the billing will be required to handle the billing outside the marketplace.
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