Monneo, which provides end-to-end payments, is now offering merchants the chance to make and receive online payments in cryptocurrency.
In Brief:
Monneo will enable merchants to accept cryptocurrency payments natively through their websites.
Cryptocurrency payments are converted to Fiat by Monneo’s service and then settled to the IBAN of the merchant.
This uses the Lightning Network where available which is a second layer of technology enabling instant exchanges.
What does this mean?
The service aims to help merchants avoid volatility in crypto payments by offering the customer 15 minutes to complete the transaction during which time the fiat rand crypto rate is locked in so rapid exchange fluctuations are avoided.
