Cowrie Research

ibex-pay

3 min read

IBEX Pay

  • Name: IBEX Pay
  • URL: https://www.ibexpay.io/
  • Category: Bitcoin Lightning merchant payments infrastructure / retail-and-ecommerce checkout control plane / optional fiat-conversion merchant gateway
  • Tags: bitcoin-ecosystem
  • Summary: IBEX Pay is hosted Lightning merchant software: terminal, ecommerce gateway, donations, and optional fiat conversion. Useful processor plumbing, not a distinctive rail.
  • What it does:
    • Provides a Bitcoin Payment Terminal (BPT) that merchants can run on iOS or Android devices for in-person Lightning acceptance
    • Supports online marketplace and ecommerce acceptance so customers can pay in Lightning or onchain bitcoin
    • Lets merchants receive deposits to their BTC onchain address after payment processing, with optional fiat conversion in selected countries
    • Offers LNURL-based donation flows so websites and campaigns can accept Bitcoin donations through a Lightning QR code
    • Maintains merchant onboarding and login surfaces via the IBEX Pay platform and support workflows
    • References plugin or API-based implementations for ecommerce platforms such as Shopify, WooCommerce, Miva, and Ecwid
  • Key claims:
    • The homepage describes IBEX Pay as “the easiest and fastest way for retail and e-commerce businesses to accept instant Bitcoin payments over the Lightning Network” and says merchants can receive deposits to their BTC onchain address within 24 hours or convert to fiat
    • The in-person flow on the homepage centers on adding the Bitcoin Payment Terminal to any iOS or Android device, entering the charge amount, presenting a Lightning QR code, and then receiving BTC settlement or fiat conversion
    • The homepage also frames the ecommerce flow as adding IBEX Pay as a payment method for a marketplace and then allowing customers from anywhere in the world to pay in Lightning or onchain bitcoin
    • The support FAQ says IBEX Pay is a “global solution” for merchants ranging from farmers’ markets and restaurants to ecommerce businesses, lists BTC transaction fees at roughly 0.5% to 0.7% worldwide, and says fiat conversion is currently available only in Guatemala, El Salvador, Australia, and the US
    • The same FAQ says large payments above roughly $2.5k should use onchain transactions and explicitly references plugin or API implementations for Shopify, WooCommerce, Miva, and Ecwid, which is strong evidence of a real merchant-integration layer beyond simple QR acceptance
    • The donations page says IBEX Pay Donations lets users receive bitcoin donations via a Lightning QR code that can be added to websites and campaigns, showing a separate fundraising workflow beyond retail checkout
    • The official site metadata describes IBEX as a bitcoin infrastructure company specialized in Lightning Network enterprise solutions and Lightning-as-a-Service, which helps place IBEX Pay in the broader merchant-infrastructure context rather than as a standalone consumer wallet
  • Whitepaper: No canonical standalone IBEX Pay whitepaper or litepaper surfaced in this pass. The clearest current source of truth is the official site, product pages, and support FAQ; see ../whitepapers/ibex-pay-primary-sources-2026-04-30.md.
  • Sources:

Internal linkages

Control surface

  • Power sits in merchant onboarding, terminal and gateway configuration, conversion policy, settlement timing, plugin coverage, and the countries where IBEX is willing to intermediate fiat.

  • Read it as a hosted Lightning processor shell. The merchant value is packaging, not a new payments primitive.

  • Last reviewed: 2026-06-04 UTC

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