OPAGO facilitates Bitcoin payments at local points of sale using the Lightning Network, ensuring minimal transaction fees and instant payment settlement. This solution addresses the need for secure and efficient cryptocurrency transactions in retail environments, enhancing cash flow and eliminating chargebacks.
Funding
Funding not disclosed
Founders
Product
Problem
Many merchants face challenges in adopting Bitcoin payments due to transaction fees and settlement times associated with traditional on-chain transactions. This can hinder cash flow and create inefficiencies in retail environments.
Solution
OPAGO provides a point-of-sale (PoS) solution that enables merchants to accept Bitcoin payments via the Lightning Network. By leveraging the Lightning Network, OPAGO facilitates near-instant payment settlements and minimizes transaction fees. The PoS terminal displays a QR code that customers can scan to complete the payment. OPAGO also offers transaction reporting to provide financial information.
Target Audience
The primary target audience includes bars, shops, restaurants, car repair shops, hairdressers, and supermarkets looking to accept Bitcoin payments.
Features
- Lightning Network integration for fast and low-cost Bitcoin transactions
- QR code-based payment processing for ease of use
- Online and offline payment mode selection
- Refund processing capability
- Transaction reporting for financial management
- Optional instant cashback for customers