BitPay has launched a payroll service for crypto assets

One of the largest crypt-currency payment operators BitPay has launched a service for payments to employees, contractors, customers and suppliers in crypt-currency.

BitPay announced the launch of BitPay Send, a new service aimed at international companies and companies in the short term contract market that want to pay several employees and contractors in cryptov currencies online simultaneously;

“Blockquote payments are becoming more popular because they offer a simple way to send and receive money globally,” said BitPay CEO Stephen Pair;

Pair said the companies using the service don’t need to buy, own or manage cryptographic software, and the employees, contractors, customers and suppliers of the organization will receive payments faster and at a lower cost.

BitPay Send allows companies to perform various payment functions, including payroll, withdrawal requests from customers, payments to contractors, issuance of rewards and settlements with vendors on the trading floor;

Recipients must have a BitPay ID and a cryptographic wallet in order to receive payments, and companies are charged 1% commission. There is no fee for currency exchange. Pair notes that the launch of the new service will allow BitPay to compete with companies that calculate and transfer salaries in cryptographic assets, such as BitWage.

Let us remind you that in July BitPay addressed
about adding optional support for SegWit addresses due to the increased number of requests from clients;