LazyCoin launches mobile wallet and merchant services app

LazyCoins, an altcoin exchange based in the UK, has released a mobile app to complement the relaunch of its online exchange.

The LazyPay app, which will facilitate mobile payments and merchant services, will move the company into competition with merchant apps from BitPay and CoinBase.

In order to compete with these industry leaders, LazyPay is promising to “not charge any fees for merchants”, CoinTelegraph reports. CoinBase offers a nought per cent fee structure below $1 million in transactions, and BitPay offers a basic free merchant service for the BitPay Checkout App.

While a low-fee structure is beneficial to merchants, LazyPay will also have to drive adoption of the consumer wallet side of the app. Several large online retailers – Expedia, Dell and even Microsoft – started accepting bitcoin in 2014, marking a move towards the widespread acceptance of crypto-currency as a payment method. By focusing on the in-person merchant market, LazyCoins hopes to ride this increasing volume, the CoinTelegraph report added.

Related reading

Leave a comment