Bitwage launches corporate debit and credit card payroll service

Rage Review : Bitwage is an innovative company that provides blockchain-based global payroll solutions to enterprises. It believes that using Bitcoin for wages has the following two benefits: for employees, this method is reliable and convenient, and withdrawals do not require banks; for employers, it helps to obtain and retain high-quality talents, solves the problem of inconvenient payment of foreign employees, and saves time and money. The company launched a global payroll service for credit and debit cards and screened acquiring institutions. The project has currently raised $760,000. In order to protect user rights and combat cyber attacks, Bitwage has reached a cooperation with an unnamed insurance company. It is believed that Bitwage's service will be widely recognized in the market in the future.

Translation: Annie Xu

Bitcoin payroll startup Bitwage supports corporate debit and credit card payroll systems.

Users can link their debit or credit cards to their Bitwage accounts, which allows them to receive paychecks in more ways than just Bitcoin and traditional wire transfers. This new paycheck method has a monthly limit of $500.

Jonathan Chester , Founder of Bitwage

Jonathan Chester, the company's founder and chairman, said the company did some research to identify an acquirer and eventually settled on one, but declined to name the company. Credit card payments have been used so far.

The company launched the service in response to customer feedback, which in turn boosted the growth of credit and debit card payments.

"We focus on how to bring the highest benefits to corporate users. Whether it is a company that makes international payroll payments or a user who uses a personal payroll system."

He also mentioned that the existing salary payment market provides few card payment options for companies, which brings opportunities to startups.

“Given the opportunities and lack of solutions presented by corporate needs, we decided to start exploring possible solutions.”

The news is the latest announcement from the company after it announced a partnership with an unnamed insurance company to deal with cyber attacks. To date, the company has raised $760,000 in funding. Bitwage recently completed a startup accelerator program led by the Silicon Valley incubator of French telecom giant Orange.

The project was launched alongside an API project that went into beta testing in October. Bitwage has already integrated the API project with its employee monitoring service Hubstaff.