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Payment service provider BitPay (United States) recently launched a new service that allows businesses to pay employees, partners, customers and suppliers with cryptocurrency.
Announced on Friday, BitPay Send is a payment service focused on international companies and contract contractor partners that want to make online payments to multiple concurrent recipients. BitPay CEO Stephen Pair said: “The adoption of blockchain payments is growing because it offers an easy way to send and receive payments on a global scale. With this new service, companies don’t need to buy, own or manage cryptocurrencies, while recipients will get paid more efficiently and at reduced costs, Pair added.
BitPay Send allows companies to perform a variety of payment functions including payroll calculation, request withdrawal of customers, payment to contractors, awarding and payment with marketplace sellers. The recipient only needs to have a BitPay ID and a crypto wallet to receive payments while the payment company will incur a 1% fee. In addition, there is no currency conversion fee.
With this new product, BitPay now offers an alternative to electronic payroll services like BitWage. BitPay launched in 2013 with an emphasis on allowing businesses to accept payments in bitcoin. After introducing 10,000 merchants to accept bitcoin payments for their services, the Georgia-based payment service provider has raised $ 72.5 million to date. , follow Crunchbase.
According to CoinDesk
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