BitPay Announces the Launch of New Mass Payout Service BitPay Send

​BitPay, a provider of Bitcoin and cryptocurrency payment services, announced that it has launched a new mass payout service—BitPay Send, enabling organizations of all sizes to pay employees, affiliates, customers, vendors, contractors and others with cryptocurrency.

According to BitPay, the new solution allows companies to make payroll payments, facilitate customer cashout requests, pay independent contractors or affiliates, issue rewards or rebates and financially settle with marketplace sellers.

Further, the company said that it is charging just 1% fee and there are no hidden foreign exchange charges and the payments are registered on the blockchain. Users don't need a bank account but just a BitPay ID and a crypto wallet.

Stephen Pair, CEO with BitPay, commented:”Blockchain payment adoption is growing because it offers an easy way to send and receive payments on a global scale. 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.”

Becoming one of the first companies to use BitPay Send, AdGate Media, a New York-based advertising company, will be able to get its affiliates paid in a matter of minutes and not days.