Bitcoin lightning payments now accepted at Whole Foods, Starbucks via Fold

• Consumers can now pay crypto to several retailers via Fold, which eliminates the risk of cryptocurrency volatility to merchants.
•  Fold expects a margin from merchants for bringing in new customers but will not be charging fees from consumers.

Fold, a well-known payments platform is launching a lightning network protocol that will reportedly allow the users to shop in-store or online at several retailers, including Starbucks, Whole Foods, AMC, Home Depot and Southwest Airlines.

Though users will be transacting in Bitcoins, the payments will be settled in the currency that the merchant opts for. While this helps in removing the crypto volatility risk for the merchant, it also will help in expanding the potential client base who prefer to transact in Bitcoins. 

Will Reeves, CEO of Fold said that the protocol would integrate with the existing payment systems in a retailer’s POS dealing “directly with prepaid access programs like gift cards, store credit, rails…