LitePay payment service could not start on the appointed day

LitePay payment service could not start on the appointed day

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The long-awaited launch of LitePay payment service did not take place on the appointed day because of the “hostile actions” of plastic card issuers.

“In connection with the hostile actions of card issuers vis-a-vis cryptocurrency companies, we decided that it is unreasonable to register users to receive a LitePay card,” the company said through the mailing list, adding that it would open the registration as soon as it could provide a reliable product.

The fact that the launch of LitePay should be held on February 26, it became known two weeks ago.

It is expected that the service will become an analogue of Bitpay for Litecoin and allow retail outlets to accept payment in the cryptocurrency, and for users will issue a card with which they can pay for purchases in the real world and even withdraw cash.

Litecoin negatively reacted to this news and fell by 2% in the last 24 hours, while the majority of large cryptocurrencies show moderate growth.

Earlier problems arose with the issuer of cryptocurrency debit cards WaveCrest, which cooperates with Visa.

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