BitPay is excited to announce support for mass payments over Polygon via our payouts and payroll solution, BitPay Send. Polygon is a sidechain solution enhancing Ethereum's scalability. While preserving Ethereum's security and functionality, it enables faster, cost-effective transactions.
BitPay Send customers can now fund mass payments with fiat and pay out in USD Coin (USDC_m) and Ether (ETH_m) over the Polygon network, offering savings in payment time and network fees.
This addition builds onto the existing cryptocurrency payout options previously offered via BitPay Send, including Bitcoin (BTC), Litecoin (LTC), Dogecoin (DOGE), Bitcoin Cash (BCH), and ERC-20 tokens like Ethereum (ETH), Shiba Inu Coin (SHIB), ApeCoin (APE), Polygon on the Ethereum network (MATIC_e), Dai (DAI), USD Coin (USDC), Wrapped Bitcoin (WBTC), Pax Dollar (USDP), Gemini Dollar (GUSD) and Euro Coin (EUROC).
Sending payouts with the Polygon network
BitPay Send is a fast, efficient and secure way to send crypto via mass payouts anywhere in the world. Leverage the Polygon network for the a variety of payout use cases:
- Make crypto payroll payments: Offer your employees the unique benefits of being paid in crypto.
- Rewards, rebates and refunds: Offer customers crypto incentives to shop with your brand.
- Marketplaces and affiliates settlements: Pay out sellers and affiliates at scale.
- Customer cash outs: Traders, players and creators can choose to cash out in cryptocurrency.
- Pay B2B vendors: Settle accounts with cryptocurrency payments.
Benefits of paying out over the Polygon network
Paying out in cryptocurrency via BitPay Send offers organizations multiple benefits.
- Never hold crypto: Send payments without holding or managing crypto.
- Low cost: Pay fewer fees than traditional remittance and payout solutions, especially while using USDC or ETH over Polygon.
- Faster than fiat: Send global payments quicker than legacy payment rails.
- Automated payments: Pay out crypto programmatically via API or push manually as needed.
- Secure, regulated and compliant: BitPay verifies the identity of all payees, regardless of nationality or country of residence.
- Global payouts: Cross-border payments to anyone, anywhere; send crypto to over 225 supported countries.
- Flexible payment options: Fund locally, pay out globally with the top cryptocurrencies to any wallet.
Getting started with Polygon payouts
BitPay’s crypto payroll and payouts solution, BitPay Send, is a secure, turn-key way to send crypto to anyone, anywhere in the world.
Organizations can send Polygon payments with no crypto experience. Best of all, you never have to hold or manage crypto.
Payments are funded with fiat and automatically converted to your recipients preferred cryptocurrency. BitPay handles the conversion and direct transfer to recipients.
Reach out to BitPay to get your business account created today.