Bitpay Send

Posted : admin On 1/29/2022

StreetInsider.com Top Tickers, 4/25/2021

6. SPY
7. EBSB
8. INTC
9. SAM
10. SWKS
Bitpay

Send the funds to your BitPay Wallet. Learn more about purchasing cryptocurrency. We recommend our users to load 20 USD worth of cryptocurrency to pay for the card order to avoid issues related to fees or cryptocurrency price volatility. If you have funds on an exchange, see. To send cryptocurrency from the BitPay Wallet, please follow the steps below: Open the BitPay app and navigate to the Wallet tab. Navigate into the wallet you wish to send funds from and click Send. BitPay Send Get answers to your questions about our blockchain-powered mass-payout platform for businesses BitPay Send for Merchants Getting started with BitPay Send (for merchants).


November 12, 2020 10:30 AM EST
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Pay Anyone, Anywhere, Quickly and Easily Using Cryptocurrency

Bitpay Send

ATLANTA--(BUSINESS WIRE)--

BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, today announced BitPay Send, a new mass payout service that enables organizations of all sizes to pay employees, affiliates, customers, vendors, contractors and others with cryptocurrency. Ideal for international and gig economy companies looking for a fast, efficient and secure way to send mass payouts, BitPay Send allows for crypto payments anywhere in the world, on any day of the week, and at any time.

“Blockchain payment adoption is growing because it offers an easy way to send and receive payments on a global scale,” said Stephen Pair, CEO with BitPay. “Traditional international payment methods are cumbersome, costly and slow. With BitPay Send, companies can make mass payouts without having to buy, own or manage crypto and their recipients receive payments quicker and at a lower cost.”

BitPay Send enables companies to make payroll payments, facilitate customer cashout requests, pay independent contractors or affiliates, issue rewards or rebates and financially settle with marketplace sellers. The company funds payments in fiat and leverages the blockchain to send pre-tax payments without having to own or handle digital currency, eliminating inherent exposure to its volatility or risk.

Bitpay Send

One of the first companies to use BitPay Send is AdGate Media which can now efficiently and cost effectively pay its affiliates all over the world. The company connects digital advertisers with users of popular apps and websites that reward users for engagement. AdGate’s President, Dan Sapozhnikov, shared, “We have lots of affiliates who wanted to be paid in Bitcoin, especially those who are based outside North America and Europe where access to bank accounts is difficult. One of our biggest challenges is that we did not want to buy and hold crypto and having BitPay manage that risk was an important factor in choosing BitPay Send. The BitPay team worked with us on integration and there was minimal training since pushing a button is all we need to do when we are ready to pay. With BitPay Send, we are able to get our affiliates paid in a matter of minutes and not days.”

Recipients do not need to have a bank account, but do need to have a BitPay ID and a crypto wallet. BitPay offers a non-custodial wallet for those who need one. BitPay Send saves time and money, reduces risk, simplifies payout process, provides quick access to funds and organizes financials. Payments arrive securely to the recipient’s digital wallet.

A 1% fee allows companies to make domestic and cross-border payments quicker, easier and more transparent than most mass payment methods. There are no foreign exchange fees and payments are registered on the blockchain in seconds and confirmed within minutes. Crypto provides transactional transparency as every transaction is verified, recorded and stored on the blockchain. Customers provide all necessary background details for Know-Your-Customer regulations.

About BitPay

Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit bitpay.com.

The BitPay Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Mastercard International Incorporated. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014. Use of the Card is subject to the terms and conditions of the applicable Cardholder Agreement and fee schedule, if any.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201112005407/en/

Jan Jahosky
BitPay
[email protected]
407.331.4699

Source: BitPay


Serious News for Serious Traders! Try StreetInsider.com Premium Free!


Create E-mail Alert Related Categories

Business Wire, Press Releases

Bitpay Sender


Related Entities

FDIC, Bitcoin

Sign up for StreetInsider Free!

Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!


Send

Bitpay Sending Fee

As firms look for ways to speed up and secure simultaneous payments to multiple workers or contractors, cryptocurrency has entered the picture. BitPay Inc., an Atlanta-based processor that offers crypto e-wallets, on Thursday said it has added a mass-payout service that will let companies pay gig workers, contractors, and other workers in cryptocurrency.

The service, dubbed BitPay Send, is particularly positioned for international payouts, the company says, as Bitcoin and other digital currencies aren’t dependent on local exchange rates and transactions can be completed in minutes, “Blockchain payment adoption is growing because it offers an easy way to send and receive payments on a global scale,” said Stephen Pair, BitPay’s chief executive, in a statement. “Traditional international payment methods are cumbersome, costly, and slow.”

Further, the new service does not require companies to buy or manage cryptocurrency and reduces the cost of distributing the payouts, BitPay says. Mass payouts are typically used when firms need to send earnings to contractors, such as ride-share drivers, in various geographies and at one time.

Bitpay send to wallet

Bitpay Send

BitPay Send represents a new avenue in cryptocurrency services for the company. “Historically, BitPay has focused on allowing companies to receive crypto, but they also have a need to send crypto,” Merrick Theobald, vice president of marketing, tells Digital Transactions News. Many BitPay clients, he adds, work through affiliates in various parts of the world. “They were looking for a faster way to pay, and the affiliates were looking for a faster way to receive [payment].”

BitPay positions the service as a way for companies to pay contractors or affiliates in crypto without assuming the risk brought on by the currencies’ volatility. “One of our biggest challenges is that we did not want to buy and hold crypto, and having BitPay manage that risk was an important factor in choosing BitPay Send,” said Dan Sapozhnikov, president of AdGate, in a statement. AdGate, which Theobald says has been trying out the new service “for a few months,” links digital advertisers with users of Web sites that offer rewards for engagement.

Firms can “jump in lightly” with the new service, Theobald says, by sending a small percentage of each payout via crypto. “The company would handle the fiat portion with any existing service they use,” he says. “We’ll handle the crypto portion.” He adds the integration work for BitPay Send is “very light,” with companies enabling the service “in a week or two.”

BitPay Send levies a fee of 1% for both domestic and cross-border payouts. The company says transactions are entered on the blockchain within seconds and confirmed in minutes. With cryptocurrency, recipients don’t need a bank account but, in the case of BitPay Send, they do need an e-wallet and a BitPay ID.

Observers say the new service could be useful for companies contending with unstable banking services or local currencies in other countries. But workers and affiliates will need certain assurances, they add. “They are going to want to know that they will be able to easily and inexpensively exchange their crypto for a fiat currency to pay taxes and otherwise spend the funds they received,” says Sarah Grotta, director of the debit advisory service at the consultancy Mercator Advisory Group.

The mass-payout service follows BitPay’s launch in June of a prepaid Mastercard that lets users convert their crypto holdings into dollars or other fiat currency and spend it at stores. The card, issued by New York City-based Metropolitan Commercial Bank, comes with an EMV chip and contactless capability.