Cryptocurrency and Bitcoin payment services provider, BitPay has launched a new feature that enables individuals or businesses to make mass cryptocurrency payments across the entire globe. Through BitPay’s new mass payout service called BitPay Send users or organizations can pay anyone, anywhere in the world, on any day of the week, and at any time using cryptocurrency.
BitPay Send feature can be used by organizations and businesses of all sizes for facilitating cryptocurrency payments on a large scale, facilitating client cash-out requests, making payroll payments, or for paying affiliates or independent contractors. Moreover, this service can also be used for finalizing a financial settlement with marketplace sellers, as well as, rebates and rewards can also be issued through it.
The main focus of this service is on those firms or businesses that look for easier ways to pay numerous clients online at the same time. BitPay comes upon their needs and enables them to pay their customers and employees using digital currency. They can make their mass payouts in a secure, efficient, and quick way. BitPay Send lowers risks, makes the process of payout simplified, and helps you to save your money and precious time.
The significance of this blockchain-powered mass payout service is that it does not require you to hold or own digital assets for issuing mass crypto payments rather you can send payouts without having to handle cryptocurrency, as per a statement from the official announcement. Another quality of this service is that it does not require recipients to have a bank account for receiving their payments. However, they should have a digital currency wallet and a BitPay ID in order to receive payments. Customers can tap the non-custodial wallet of BitPay for this purpose.
While shedding a light on the importance of BitPay Send, Chief Executive Officer (CEO) of BitPay Stephen Pair said, “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.”
AdGate Media is the first company to utilize this feature of BitPay. It can pay its affiliates in an efficient way. Dan Sapozhnikov, the President of AdGate, said that they have numerous affiliates outside of Europe and North America. They desire to get their payments in Bitcoin.