BitWage is on a roll as of late, and the company announced blockchain-based payroll processing and invoicing services for Brazilian customers. Given the company’s focus on international payments, Brazil can be a huge market for Bitwage. With many freelancers active in the country, offering alternative methods of getting paid becomes even more necessary.
What makes the invoicing solution provided by BitWage so appealing is how recipients of funds can leverage the Bitcoin blockchain. At the same time, the person paying them does not have to do anything special to send a payment in whichever way they prefer. Such a solution can be extremely valuable when dealing with international payments on a regular basis.
BitWage Arrives In Brazil
To put this into perspective, the company transferred US$5m in wage payments last year. No funds were lost in the process, and transaction fees were kept to a minimum for sender and recipient. Moreover, Bitwage has taken the necessary steps to become insured by a top-rated US insurance carrier.
All of this success has allowed the company to further increase their presence in the international market. Statistics provided by World Bank indicate Brazil’s economy is suffering from a high poverty rate. At the same time, Internet connectivity efforts have put the country on the map in this modern era. Many freelancers living in Brazil are making a living online, yet collecting payments can be a struggle depending on the recipient’s access to financial services.
This makes Brazil an interesting region to Bitwage, and the company has rolled out its invoicing and international payroll services in the country. Contractors and freelancers can bill their clients across the world, without forcing the sender to sign up for the service. Employers can pay their workers through regular bank transfer, which is then transferred over the blockchain to the recipient. Users can have Brazil real deposited into their bank account straight away.
“With the release of our new launch in Brazil comes also the release of a new referral program for Brazilian workers. For every Brazilian contractor or freelancer referred, the referee will receive 0.50% of all the wage payments that come in through our invoicing system for six months. There will be a max payout of 1000 USD a month per referee.”
More importantly, there will no 5-15 days delay when processing these payments either. As Bitwage leverages the blockchain, they can complete most payments within one to two business days. Plus, the recipient will receive more money from the same payment amounts, due to the company maintaining better exchange rates.
Source: Press Release Via Email
Header image courtesy of BitWage