The team of bitcoin-start-up Zap told about cooperation with Visa.
As part of the joint work the parties plan to issue a debit card.
Startup, which is developing Lightning solutions Zap and zap coin, Inc. has signed agreements on joint work with the global payment system Visa. The information about it appeared in the blog of the project founder, Jack Mullers.
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As part of the joint work the parties will issue plastic cards. The offer will be available on the basis of one of the products Zap, Inc. - Strike. With its help users will be able to accept bitcoin in dollars through their bank deposit. The development is available as a public beta version. Visa will also participate in transactions.
According to Jack Mullers, Zap, Inc. has joined the Fast Track program, organized by the specialists of the payment system. As part of the initiative Visa is working with the project participants to help them enter the market in the most effective way. For this purpose, the payment system provides them with support and resources at each of the stages.
Within a year Zap team, together with Visa, plans to launch its own Strike card. Jack Mullers presented the plastic in the following way:
"A real debit card with real awards for the real world. Use the Strike app for shopping anywhere in the world at any time".
Online users have been positive about the initiative by Visa and Zap, Inc.
They also want to integrate Visa Direct technology, which "enables fast payments to billions of endpoints around the world," into their application. Deadlines are not marked.
Wallet developer Zap has launched a new service that simplifies the use of Bitcoin Lightning Network. The new service, called Olympus, allows users to upload their wallets with fiat money and instantly make payments in cryptographic software, reported Decrypt.
The Bitcoin Lightning Network has always been difficult to install and use. This may be one of the reasons why implementation of the network designed for instant payments in Bitcoins has slowed over the past year.
Earlier, as Mullers wrote, users had to go through a long process:
Take an order, buy a bitcoin, wait until you are allowed to withdraw funds, withdraw funds and wait for confirmation, put a bitcoin on the Lightning network, open channels, wait for new confirmations, scan a QR code.
With Olympus, writes Mahlers, all you have to do is "download, buy, scan". Users can buy bitcoins in the app and add them directly to their Lightning wallet after each purchase.
To make this work, Olympus uses Turbo Channels to calculate transactions, which means that the transaction does not require online verification. This eliminates the need to wait for the Bitcoin transaction to be confirmed, which takes over an hour before payments can be made.