- BitPay introduces BitPay Send to businesses worldwide
- This new services would allow businesses to make mass payments in cryptocurrency
BitPay has announced a new project called BitPay Send. BitPay Send is a new service that will allow organizations to be able to carry out mass payments.
The service will enable these organizations carry out their payments in cryptocurrencies. This new feature would give organizations an opportunity to carry out mass transactions in an efficient, cheap and secured manner.
When users make use of BitPay Send, they can be sure that the recipient would get an instant delivery of such payments made in cryptocurrency immediately.
BitPay’s CEO, Stephen Pair, noted that traditional payments systems were slow and very cumbersome. Not only that, these traditional payment systems have also proven to be costly. However, with the adoption of this blockchain payment system, companies can carry out payments using crypto assets.
The company does not necessarily have to own a crypto asset, however, whoever they are sending the cryptocurrency to must have a crypto wallet and a BitPay ID. BitPay has also stated that they would be providing a non-custodial wallet for individuals who might be in need of such services.
BitPay Send would only charge 1% as its transaction fee. The payment system would ensure a transparent, easy and seamless transaction method when compared to the available alternatives.
BitPay Send shows BitPay commitment to making organizations adopt Crypto assets
BitPay, one of the biggest crypto firms in the world, has shown with its new project that it remains committed to making businesses adopt cryptocurrencies.
The US based firm which was established in 2011 is one of the first crypto firms in the world.
The company has gone on to process over a billion dollar annually since its inception. Presently, one firm that has adopted its BitPay Send feature is AdGate Media.
AdGate Media uses this feature to pay its affiliates that are spread across the globe.