Litepay: What is it and Why Crypto Fans Should Be Excited.
LitePay is a payment processor of Litecoin. Retailers/Vendors can accept Litecoin payments INSTANTLY from anywhere globally.
A Litecoin wallet will be available where users can load Litecoins onto a Visa-compatible LitePay card. This will be supported worldwide. The LitePay Visa card can be used wherever Visa cards are accepted. Litepay takes the money directly from your LTC wallet.
According the Litepay Website: “The service provides value to two fundamentally different kinds of clientele for two different reasons.
“Firstly, it gives merchants an added incentive to begin accepting Litecoin because the payment processor assumes the risk of accepting the crypto - protecting merchants from market volatility. Secondly, it gives Litecoin holder more liquify in the short-term with their debit cards.”
Alternatively, Bitpay, a Bitcoin and Bitcoin Cash transaction processor charges consumers $5 dollars per transaction and has long transaction times.
In comparison, payments would be processed by LitePay instantaneously and settled directly with their bank.
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