BREAKING! LitePay Has Arrived!! Pay for Goods/Services w/ LiteCoin & Accept LiteCoin as a Merchant. This is Exciting!

in #litecoin7 years ago (edited)


I love me some LiteCoin as people know!!

This service has just launched, though there are other cards/services like this -- each with their own restrictions, screening, privacy and abilities -- and always consider the geographical issues, and KYC/AML issues tied to verifying your account.


A lot of the info I didfind on this, for my research is still pretty basic.

I used their website, lots of links and dropdowns.


They are in a private beta right now, until Feb. 2018 full launch.


ONGOING TX. FEES:


They had this to say re -- their fees:

Keep more of your money

Credit cards take up to 3% in processing fees on every transaction.

Accept Litecoin with Litepay and get direct bank deposits in your own currency for a simple, flat 1% settlement charge.

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How We Set Our Exchange Rate:

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LitePay has relationships with many Litecoin exchanges around the world, but we only utilize exchanges which meet our operational and regulatory requirements. When calculating our exchange rates for LitePay invoices, we only incorporate rates of Litecoin exchanges which meet our regulatory, operational, and market depth requirements.

To calculate the exchange rate for US Dollars, we typically pull the market depth from an exchange with adequate liquidity and reliable withdrawal capabilities in the USA and Eurozone. We factor "slippage" into our exchange rates, which means that the larger the value of the invoice, the lower the exchange rate. Slippage is usually only noticeable on very large invoices.

We set exchange rates for non-USD currencies indirectly using the Open Exchange Rates API. In the future, as Litecoin markets mature, LitePay will use those markets directly.

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I made this up to show the rates today......12/24/2017 -- about 6:30 pm EST:

Exchange Rate:

On their site it seems to update or refresh fast, every 10 seconds or so.

So when it showed this there:

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It Showed this on CMC.com so you can see the rate/ rough % they take:


About the Company:


LitePay was founded in 2017 to allow merchants the ability to accept Litecoin (“LTC”), the crypto currency for payments. In addition to offering merchant processing, we also provide Multi-signature wallets and a LitePay debit card which allows users to instantly convert LTC into USD. LitePay is based in San Francisco, CA and its services are available for use in all jurisdictions where not prohibited by law. We can be reached via email by clicking on the link below.

support@litepay.zendesk.com (Repeated at end of this post, with contact info)



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My reply to their Tweet today:


BitPay is a huge international company around for quite awhile.

They are well known, have huge presence in the crypto/fiat gateway payment world and......

For whatever reason, politics or otherwise, they have never implemented LTC for payment on their system but this week, announced that they would implement BCH / Bitcoin Cash on their system.

Litecoin has been around for years! It is fast and reliable so BitPay and some of their strange behaviours in the market should be duly noted.

Again.




LitePay Contact Info:


https://www.litepay.us/

https://twitter.com/LitePay_

support@litepay.zendesk.com




Thanks for reading, have a nice day.


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Sort:  

Thats definitely good for LTC Value but I don't get one thing: How can cryptos work as payment sources in these day when exchange rates are crazy and so volatile?

My friend, you need to step outside of the Bitcoin (core) coin and look at other stuff in life.

LOL

I think it also depends on the monetary value of the merchandise and the distance between buyer and seller for one to consider using a cryptocurrency as a mode of payment.

They say bitcoin cash is much better. Is it true?

@barrydutton Why is that?

Litecoin's confirmation times and fees are instant compared to the crazy fees and wait times on bitcoin these days. I see more and more people turning to Litecoin to for day-to-day needs.

OMG! This is awesome!

We were kinda just hoping for the TenX Pay card to make its way into the USA, but this will do. Yes, indeed, it will. 😍

We've not yet had luck with Purse.io, which is supposed to allow you to use Bitcoin to make purchases from Amazon. I'm assuming that is true, but our orders have been canceled after several days instead of going through. We are about to try again.

Gonna go over and get in on this sweet beta action now. 😎

Thanks for the headups.

Also...
Use links below to save image.

Also, I always love your replies

(:

all classic currencies have a good future

@barrydutton I am a LITEcoin Fan Boy and I see the LITE's...............

Why is litecoin not jumping in price?

LTC is going to kick some serious ass in 2018. Litepay is only the start!

This is awesome! Thanks for sharing! :D

Wow, maybe this is why Charlie Lee sold his coins? This is great news and I hope to see more success for LTC in the future.

That is not why, this is just one little thing in the roadmap of LTC and the legend that is Charlie Lee. It would honestly have nothing to do with this my friend

There is definitely a need for this now with the current Bitcoin fees and speed.

More options every day.

The Free Market solves everything.

Wow! Exciting news @barrydutton !

I am like a LTC FanBoy of sorts and I know it.

I really need a couple of XL shirts!!!!

LTCFoundation Litecoin Foundation tweeted @ 21 Dec 2017 - 21:45 UTC

Finally, someone is taking the opportunity to create litepay.us . Good job! @BitPay had a very good ch… twitter.com/i/web/status/9…

LitePay_ LitePay, Inc. tweeted @ 22 Dec 2017 - 02:23 UTC

Thanks for the love! We look forward to our public launch in February of 2018, and helping grow, "The Cryptocurrenc… twitter.com/i/web/status/9…

Disclaimer: I am just a bot trying to be helpful.

Wow! Thats cool! Hope that steem will have that kind of thing in the near future.
Happy Holidays! 🎅

I know a lot of LTC hodlers who are going to really like this! Thanks for sharing.

I have to get myself one of those cards. Great post my friend.

2018 is the year for litecoin. Will it make ltc 30,000 each?

LitePay! I didn't even know about this, and I absolutely love LiteCoin. This can be nothing but great news.

Thanks for your post.

This I feel will be a brilliant step ahead for litecoin and its holders! Thanks for bringing this info to me. Upvoted and followed

Great post