Litecoin Litepay Delay Announced

Due to pressure from credit card issuing companies, Litepay will not be accepting applications for new Litecoin based credit cards until further notice. The company issued this statement today:

“Due to hostile actions by card issuers towards crypto companies, we have decided that offering LitePay card registrations at this time is imprudent”.

Unfortunately this a bit of a bummer for Litecoin fans who wanted to use the cryptocurrency to make everyday payments. We Litecoin fans are still holding out for the release of the cards, and LitePay is not saying that it has totally given up on the project.

In other news, LitePay has announced the release of the merchant terminal today. Businesses can sign up to accept Litecoin on LitePay's website: https://www.litepay.us/accept.html

Here was a little chunk in the news that may stitch together the reasons why LitePay's card issuing was delayed:

"In early February, the Amercian financial institutions, JPMorgan & Chase, Bank of America and Citigroup and the British banking group Lloyds said they would impose a ban on their credit card users purchasing digital currency. There is no suggestion that any of these banking or card companies are involved in a dispute with LitePay."

What do you think will happen with LitePay? Do you plan to accept Litecoin for your business?

SkyPoint Studios a web development firm in Billings, Montana is currently accepting Litecoin and other cryptocurrencies for web design and our other products. Learn more: https://skypointwebdesignbillingsmontana.com/payments/web-design-firm-now-accepts-bitcoin/