LitePay, a new payment service for merchants, will be launched on February 26, 2018. It will allow businesses to accept litecoin for goods and services.
BitPay provides similar solution, but for bitcoin.
In its official twitter account LitaPay said: “We started because the people asked Bitpay to accept LTC. They wouldn’t, so we took the challenge.”
According to LitePay CEO Kenneth S. Asare, 41 countries including the U.S., U.K., China, Japan and Germany will have access to LitePay merchant payment processing.
The official website says that settlement charges will always stand at 1%. This is much lower than the current processing fees of up to 3%, if bank’s debit or credit cards are used for payments.
LitePay will also provide mobile wallets and debit cards to users. According to some sources, LitePay cards will be powered by a Visa-compatible system, which will convert litecoins to dollars. This will enable users to spend litecoins in any place where Visa is accepted.
