- Fiserv and Strike partner to bring Bitcoin’s lightning network to Clover’s merchant.
- Strike to bring the Lightning network to more than 200 countries.
Strike made a recent partnership announcement through its CEO, Jack Mallers. The announcement through Maller’s Twitter reads, “Lightning is live with Clover. Strike is officially an integrated partner of the payments giant Fiserv and we’ve launched our public pilot with CloverCommerce point-of-sale terminals!”
“Clover merchants can now accept cheaper, faster, cash-final USD over Lightning.” He added.
Lightning is live with Clover.
Strike is officially an integrated partner of the payments giant @Fiserv and we've launched our public pilot with @CloverCommerce point-of-sale terminals!
Clover merchants can now accept cheaper, faster, cash-final USD over Lightning.
— Jack Mallers (@jackmallers) January 26, 2023
Fiserv, which is a global leader in fintech and payments solutions, has continued on its mandate to help thousands of financial institutions and millions of people and businesses to move money with ease.
Its baby company, Clover, offers POS systems and credit card processing. Enabling users to accept payments and run their businesses. With this partnership, Clover merchants can now accept payments with Bitcoin and other currencies instantaneously with Strike’s Lightning network.
Maller’s announcement also states, “From Cash App to a node over Tor. If it can make a Lightning payment, you can use it.” This means that the integration enables Clover merchants to accept Lightning payments from any service.
However, this integration is not available to all Clover merchants just yet. A test run is currently ongoing and monitored. The results will guide Strike’s further integration into the Clover App store, and then Clover directly. At this point Lightning will become a default option for Clover merchants, putting it on the same level as Visa and MasterCard.
In Maller’s words,
To be clear, this doesn’t automatically enable all Clover merchants just yet. Today, 26th of Jan. 2023, starts our 90-day pilot period. Over the next 90 days we’ll measure settlement speed + cost compared to other networks and track new business Lightning brings to merchants that enable it.
The Lightning Network is an open, instant, cheap, inclusive, and innovative payment network. Therefore, it makes sense that Fiserv will partner with Strike to ease payments for its customers.
Strike brings Lightning Network to over 200 countries
Strike is expanding its services to more than 200 nations following a successful U.S. launch in 2020 and the release of its payment solution.
Strike will sign up more than a million Bittrex users worldwide through a partnership with the exchange. With more currency pairs to follow, Strike will first offer support for the euro, pound, swiss franc, tether, and USDC.
The Strike app is currently accessible in Argentina, El Salvador, and the United States (with the exception of Hawaii, New York, and South Dakota).
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Strike might appear to be another nice payment app at first glance, which is true, but it offers much more. Strike enters the international remittances market with the intention of not only disrupting the status quo but also bringing free and immediate transfers abroad.
Crypto markets are open 24 hours a day, 7 days a week, Bitcoin sits on international liquidity, and Lightning allows for nearly immediate payments with Bitcoin. This potent combination will unseat the traditional market leaders and provide many people who have been left behind with next-generation financial services all around the world.