Thinking Crypto
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LitePay and LitePal Explained - Launch of Two Major Litecoin Payment Processors
Posted
February 7, 2018
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7:47Now PlayingLitePay is to launch this week, and LitePal later this year. This is a game changer and massive for Litecoin. They have just increased their utility and adoption potential.
LitePay - going to make Litecoin usable anywhere that Visa is. It will convert all payments to/from US dollars immediately, and all deposits will incur “a simply, flat 1% settlement charge” as opposed to the 3% charged by credit cards, according to the official website.
Palwasha Saaim, a research analyst at Lombardi Financial, said: “It would allow businesses to accept Litecoin without worrying about price volatility. Payments would be processed by LitePay instantaneously and settled directly with their banks. Take note that BitPay is currently charging about $5.00 transaction fees for processing Bitcoin transactions that take ages to confirm. The best part is that Litecoin users will be able to convert litecoins to dollars and vice versa through their Visa-compatible LitePay cards, which will be usable at all ATMs or businesses that support Visa payments.”
LitePal - “LitePal is a Litecoin-first payment processor. We envision a cryptocurrency world where Litecoin is utilised by merchants from all over the world; one streamlined, simple, less confusing process.
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