Cryptocurrency processing service BitPay has just launched the payment platform BitPay Send for corporate clients, which allows mass payments in cryptocurrencies.
Business Wire has reported BitPay Send allows users to pay employees, affiliates, customers, vendors, contractors and others with cryptocurrencies. BitPay has pointed out each transaction is verified, recorded, and stored in a blockchain.
The service is available in 225 countries. While payment recipients don't need a bank account, they must have a BitPay ID and a cryptocurrency wallet. The platform charges a 1% fee for each transfer.
BitPay CEO Stephen Pair says the ease of sending transfers in cryptos around the world is a big advantage for companies, since they don't have to buy, store and manage digital assets.
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