With BitPay Send, BitPay wants to make Bitcoin and crypto payments easier for businesses
US-based BitPay is known for delivering Bitcoin and cryptocurrency payment solutions that make it easy for businesses and merchants to accept crypto payments from their customers, as explained in our tutorial guide.
BitPay announced on Thursday the launch of BitPay Send, a solution that should make it easier for businesses to send and pay in cryptocurrency.
According to BitPay, BitPay Send is a new mass payment service that allows businesses of all sizes to pay employees, affiliates, customers, suppliers, contractors and more with cryptocurrency like Bitcoin BTC, Ethereum , etc …
The service enables encrypted payments anywhere in the world, any day of the week and anytime.
BitPay states that recipients do not need to have a bank account, but must have a BitPay ID and a crypto wallet.
BitPay offers a non-custodial wallet for those who need it.
Stephen Pair, CEO of BitPay, said:
“The adoption of blockchain payments is growing as it provides an easy way to send and receive payments globally.
Traditional international payment methods are cumbersome, expensive and slow.
With BitPay Send, businesses can make massive payments without having to buy, own or manage cryptocurrencies, and their recipients receive payments faster and more cheaply.”
BitPay Send charges a 1% fee on amounts sent.
“A 1% fee enables businesses to make domestic and cross-border payments faster, easier and more transparently than most retail payment methods. There are no exchange fees and payments are recorded on the blockchain in seconds and confirmed in minutes.”, BitPay says.
AdGate Media, a New York-based advertising agency, was one of the first companies to use BitPay Send, its CEO Dan Sapozhnikov said:
“We have many affiliates who wanted to be paid in Bitcoin, especially those based outside of North America and Europe where access to bank accounts is difficult.
One of our biggest challenges is that we didn’t want to buy and hold crypto and that BitPay managing that risk was a big factor in choosing BitPay Send.
The BitPay team worked with us on the integration and the training was minimal as all it takes is the push of a button when we’re ready to pay.
With BitPay Send, we are able to get our affiliates paying in minutes, not days.”
The adoption of Bitcoin and cryptocurrencies certainly goes through payment in crypto, important players like BitPay and PayPal will certainly lead to an acceleration of this adoption among the general public and professionals (large companies, e-commerce sites or small businesses).
PayPal is soon to launch bitcoin and crypto payment to the 26 million merchants in its network.