Some details about LITEPAY.!

What is LitePay!

LitePay is the payment processor of Litecoin where retailers can accept Litecoin payments instantly from anywhere in the world.

A Litecoin wallet will be available where users can load Litecoins onto a Visa-compatible LitePay card which will be supported worldwide.

LITECOIN is poised to launch its exclusive transaction processor - LitePay - next week to consumers.

The LitePay Visa card can be used wherever Visa cards are accepted and it takes the money directly from your Litecoin wallet.

Businesses will also be able to accept the cryptocurrency for payments as well.

The website states: “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.”

Litecoin will have much quicker transaction times compared to Bitcoin and significantly cheaper fees.

LitePay users will be able to convert litecoins to dollars and vice versa through the Visa-compatible LitePay cards, which can be used at all cash points or business that support Visa payments.

The LitePay Visa card can be used wherever Visa cards are accepted and takes the money directly from your Litecoin wallet.

LitePay will charge a flat 1% fee per transaction, compared to standard credit card fees which are around 3% and the BitPay transaction fee of $5 dollars per transaction.