LitePay and LitePal
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.
How LitePay functions
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.
LitePal
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.
