Two Litecoin payment processors underway

Tuesday, February 6, 2018 3:11 AM UTC

Two Litecoin payment processors – LitePay and LitePal – are currently in the works.

First announced in December 2017, LitePay is right on track for its planned February launch and likely to be rolled out this week, Bitsonline reported. Its website currently states “We are currently in private beta, and plan on opening up signups in February of 2018.”

Founded in 2017, LitePay seeks to allow merchants the ability to accept Litecoin (LTC) for payments. In addition to offering merchant processing, it will also provide Multi-signature wallets and a LitePay debit card which would enable users to instantly convert LTC into USD.

Another Litecoin processor, LitePal, is expected to launch somewhere around Q2 and Q3 this year. It describes itself as “a Litecoin-first payment processor.”

LitePal is a Litecoin-first payment processor. We envision a cryptocurrency world where Litecoin is utilised by merchants from all over the world; one streamlined, simple, less confusing process. Thank you @SatoshiLite for creating the LTC we all love!
— LitePal (@LitePalOfficial) February 4, 2018

According to the LitePal website, it will support two cryptocurrencies – Bitcoin and Litecoin – and has plans to offer traditional payment options as well. LitePal says:

“LitePal will also be offering Bitcoin as a payment option; we believe that Bitcoin will always have its place in ecommerce and real-world transactions, but we also recognize the need for more technologically evolved cryptocurrencies like Litecoin, where network fees are much lower.

“LitePal also hopes to offer conventional payment options that your customers and clients already use, like PayPal and Western Union.”

Litecoin is currently the sixth most valuable cryptocurrency with market capitalization around $6.3 billion. It is currently trading at $111 levels (Kraken) at the time of writing.