Strike Partners with Shopify to Create a New Payment System

Mobile payment app Strike has partnered with Shopify, alternative payment provider Blackhawk Network and point-of-sale supplier NCR to create a new US payment system that allows merchants to quickly receive payments in dollars after people pay with crypto.

The Lightning Network-based system will work with online purchases from merchants using Shopify, as well as point-of-sale transactions at many large chain stores.

"It's a new, innovative, superior payments rail that is finally embedded and distributed into our lives," Strike CEO Jack Mallers explained to a packed crowd at a Miami Bitcoin conference on Thursday afternoon. 

Mallers showed a list of major U.S. companies that he says would be able to accept payments this way, including McDonald's, CVS, Walgreens, Whole Foods and Wal-Mart, in addition to several other grocery stores and restaurants.

"Strike's integration is accessible by any consumer in the world with a Bitcoin Lightning Network-enabled wallet, including more than 70 million CashApp users," Strike said in an April 7 press statement about the Shopify integration. 

Source: The Block