Advantages
Manual and CSV upload
on website
Mobile (iOS & Android)
Time-tracking integration
API
Lower costs
Global access
Secure and compliant
How it works?
Employer sets up an account at Bitwage
Employer invites workers to the platform
Employer creates payroll and funds it using wire, ACH credit, ACH debit, SEPA, credit card or digital assets
Employee receives their desired payout preference
Bitwage vs Bank
Bitwage constantly analyzes all the mechanisms to distribute wages across borders, comparing traditional systems such as bank wires with new international gateways, such as XBT and XRapid protocols. Through this fully encompassing approach, Bitwage radically reduces the cost of paying workers, freelancers and outsourcing firms across borders.
| Send 1000 USD |
| Same to Next Day |
| Neither party pays serivce fees |
| Retail Exchange Rate is 51.23 PHP/USD |
| Receive 51,229.61 PHP |
Bank wire
| Send 1000 USD |
| 5-14 business days |
| Sender and Receiver bothpay 25-45 USD |
| Retail Exchange Rate is 41.50 PHP/USD |
| Receive 40,462.50 PHP |
Case study
Problem
“Although there are the big gorillas in this space, like PayPal or Western Union, none of tchem offer flexibility necessary to operate an efficient global company. (…) The main [issues] are the 1) speed to get funds to the contractor and 2) the awful exchange rate. Specifically for us, we were looking to get our employees in the Philippines money in a timely manner, Some of the specific options that we tried were Remitly, Transferwise, PayPal, Western Union, Xoom, and a few other small ones.”
Solution
“We finally settled on a new, innovative
start-up called Bitwage. (…) Within minutes, we were set up to start sending payments to our employees in the Philippines and although there were hiccups in the beginning, none of these issues were ever too large to overcome. Besides having amazing customer support, Bitwage offers a great exchange rate and timely service.”
Ryan Stommel, CEO Call Criteria