LitePay is to launch February 2018 and its counterpart, LitePal is set to later that same year.
With the upcoming launch of LitePay, Litecoin founder Charlie Lee issued a statement on twitter in support of this launching platform.
LitePay will be accepted anywhere that Visa is accepted by converting all payments to/from Litecoin to US Dollars and vise versa.
When a purchase is made with LitePay, the funds directly come from the connected wallet. This will allow instant processing of payment by their banks.
Instead of the traditional 3-5% that most credit cards, all deposits will have a flat 1% settlement fee across the board.
This is a Litecoin payment system that can be utilized by merchants worldwide. This is meant to be a streamlined and simplified payment process. It is scheduled to be released later this year and provide more information as it approaches.
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