Author Topic: Lightning Network payment processor  (Read 1582 times)

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Offline YBetTopic starter

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Lightning Network payment processor
« on: December 31, 2018, 09:59:08 PM »
We still have a problem with crypto payments: High fees.

Segwit helps reducing them but it is not enough. When the network will be congested like in Q4 2017, we will still need to pay fees between 0.10$ and 1.00$ even for 1$ payments. That's not ideal for micropayments.

Lightning Network IS a solution, but it's very very complicated for average Joes, still complicated for tech guys.

So i have a proposal. To create a payment processor that lets you make payments via Lightning Network, without knowing anything about it.
The network fees for LN transactions will be a few cents in the worst case.

The LN processor i have in mind should, among other services, lets you:

- top-up your crypto Balance on the online wallet, kept by the payment processor

- when you need to make a payment, you can make the payment processor do it for you via Lightning Network.
Then the amount will be deducted from your online wallet balance.
Commission for the intermediary: maybe the double of the LN network fees

- possibility to send bulk payments via API or by uploading a CSV file

- scheduled/automated payments via a control panel or API

- when you send payments in a cryptocurrency different than your online wallet, automatic conversions are made, which must reflect the market price at a major exchange like Coinbase, Bitstamp, Binance.
Maybe the conversion could be made via atomic swaps on LN

Is there someone developing something similar? Or is it available?

In Charlie we trust

Offline Donsinly

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Re: Lightning Network payment processor
« Reply #1 on: May 09, 2019, 05:30:31 AM »
It's very good with what you are doing right now.


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