Litecoin has been in the market for a long time now and has established a name for itself in terms of privacy and financial rights. Even in a recent interview, founder Charlie Lee addressed the fundamental issues of our current financial system and the need for wide adoption of cryptocurrencies for real-world payments. In order to make this vision come true, Litecoin goes into the new integration between Bitpay and Verifone. The new venture would open up vistas for the Litecoin payment environment in the future.
The partnership between these two payment firms could bring the long-due impetus for Litecoin, a crypto project focusing on payment systems ever since its inception. If this partnership goes well, it will not just move the coin to the mainstream but also highly affect its price. It is because Litecoin has already invested so much in building infrastructures for real-world adoption. Head over to this LTC prediction to get more details on how this might affect the price of the coin.
Verifone is a US-based technology provider for point-of-sale payments. The firm enables electronic payment and value-added services to the customer at the time of purchase, making the environment hassle-free and customer-friendly. So far, the firm has tested its footing in several industries like petroleum, hospitality, healthcare, etc. The company has developed a trademark self-reliant POS device that runs with an exclusive operating system enhanced for payment services.
BitPay, on the other hand, is a cryptocurrency payment processor. The BitPay Mastercard helps a user instantly convert the cryptocurrency into fiat money and loads it on the card to be used for purchases. BitPay brings an efficient system that reduces the risks involved in converting or spending cryptocurrencies for real-world uses. Moreover, one does not have to look for a cryptocurrency-supported vendor with a BitPay MasterCard in hand.
However, the deal signed between these two payment firms will soon allow the merchants to receive their pay directly in cryptocurrency. The system created through this partnership promises to protect the customers and merchants from the volatility issues regarding virtual currencies. According to CEO Mike Pulli from Verifone, the new venture brings the users an additional option for payment, and it is only up to the users to use crypto or not for the payments. As many as 11 coins, including Litecoin, from certified wallets, can be used for purchases with this new solution.
Litecoin can now be accessed for making purchases with Verifone-supported merchants. The implementation of the point-of-sale model is new to the crypto industry, but this is something the projects have been dreaming of for a long time now. Millions of customers from nearly 150 countries can make use of this POS model to access Litecoin currently.
According to some experts, the many billions of U.S. dollars currently being invested in crypto development will translate into better product offerings and increased bullishness of the crypto market in the coming months.