Tando Says 40 Million M-Pesa Users Can Now Access Bitcoin Lightning Payments

According to the announcement, users of M-Pesa (Kenya-based mobile money service) can receive Bitcoin Lightning Network (Bitcoin payment scaling system) addresses through Tando to make Bitcoin payments.

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Summary

Tando said 40 million M-Pesa (Kenya-based mobile money service) users now have access to Bitcoin Lightning Network (Bitcoin payment scaling system) addresses, enabling Bitcoin payments through its service. The update points to a payments integration between mobile money and Lightning, a network designed to make Bitcoin transactions faster and cheaper for everyday transfers. If adopted at scale, this type of connection can lower friction for using Bitcoin in retail and peer-to-peer payments by linking it to an established mobile payments platform.

Terms & Concepts
  • Lightning Network: A Bitcoin scaling system that processes payments off the main blockchain to make transfers faster and lower cost.
  • Bitcoin address: A destination identifier used to send and receive Bitcoin on supported wallets or payment services.
  • M-Pesa: A mobile money service widely used for digital payments and transfers, especially in parts of Africa.