San Francisco-based bitcoin payroll service company Bitwage announced today the launch of its Bitwage Payroll service for Individuals (BPI) in Europe. The service allows users to accept Euro wages through European bank accounts regardless of where in the world they live.
The service launch follows Bitwage’s success in the United States. BPI allows users to receive their wages in various digital currencies, fiat currencies and commodities including bitcoin, Euros, gold and silver. The system is compatible with existing payroll systems, including ADP and Intuit and delivers payments at same or next day payout speeds.
Bitwage aims to make international payments fast and simple, particularly with regards to working with contractors abroad. “With our launch in the European Union, contractors and freelancers all over the world will have a much easier way to receive their wages abroad from one of the largest economic zones in the world. All without the friction involved in trying to convince clients to change their payment solutions,” said Jonathan Chester, founder and president of Bitwage.
Receiving international contractor payments works the same as receiving domestic transfer payments. The system works by Bitwage passing to the user an account number for the employer’s US or EU bank to include on invoices. BPI and Automatic Zero-Click Payrolls within Europe will initially have zero fees, though fees may apply for 1099 filings and non-automatic payments with Wire.
Image courtesy of Bitwage