LazyCoins to launch mobile payment app

LazyCoins has revealed its plans to expand its services with the launch of a mobile app for payments and merchant services.

UK-based altcoin exchange LazyCoins has revealed its plans to expand its services with the launch of a mobile app for payments and merchant services allowing merchants to accept payments in bitcoin and other crypto currencies like litecoin, darkcoin and many others.

LazyPay, the new mobile application, will compete with existing players attracting customers with a low-to-zero processing fees.

The app will allow users to opt for exchanging Bitcoins automatically for local currencies like GBP or USD or EUR and receive the payment into their bank account without any transaction fees.

Lazy Pay will require a customer to scan the QR code generated while requesting for payment at the point of sale and pay followed by a payment confirmation receipt indicating the completion of sale.

The service will be launched after fulfilling legal requirements with HMRC and other regulatory bodies to ensure thorough compliance before its onset.