Rapid international wages via Bitcoin

Bitwage provides software for individuals or employers to set up a Bitcoin payroll.

As Bitcoin (BTC) usage continues to grow and more users trust the currency as an investment, we’re seeing more startups providing ways to increase its accessibility. We have already seen a Bitcoin debit card, usable at any Visa merchant, and now Bitwage is catering to international Bitcoin payroll.

International bank wire transfers usually take 5-14 business days at an average cost of eight percent. With Bitwage, users can receive same or next day Bitcoin payments at a cost of one percent. BTC’s blockchain system also ensures traceability, preventing payments being lost along the way. Bitwage operates two main business models. The ‘Individual’ model enables employees to create a digital wallet that they request their wages to be deposited into, which they can then exchange into their local currency, or use directly at Visa merchants with Bitwage’s own debit card. The ‘Employer’ model provides API for businesses to implement Bitcoin payroll systems.

Bitwage envision their software enabling businesses to expand on international talent sourcing, and ensure that payment is received instantly and at minimal costs. How else could could Bitcoin change business operations?