Californian bitcoin wallet provider Snapcard has announced the launch of MassPay, a new platform that will allow users to instantaneously send mass cross-border payments to an email, a phone number or a bitcoin address. The new service will allow companies to use bitcoin as a reward for its customers.
Snapcard has also partnered with Tango Card, the world’s largest rewards-as-a-service system, which earlier helped businesses to reward their consumers with gift cards.
“It’s really exciting leveraging the blockchain to increase efficiencies in areas that need it, and as such we are thrilled to make bitcoin available through the Tango Card rewards API. Tango Card was able to use our new MassPay API to allow their users to receive Bitcoin Rewards at an e-mail address, phone number, or a bitcoin address, all without taking on any of the currency risk, ” said Snapcard CEO Michael Dunworth.
“We saw the opportunity for MassPay when we noticed partners being unable to payout customers efficiently,” he added.
The solution will enable businesses and merchants to carry out reward payments without worrying about the risks associated with unstable bitcoin exchange rate. The recipients will be able to withdraw money to more than 15 local currencies for a fee of 0.25%. Depending on the country, it can take from three hours to three days to withdraw the funds.
The option is currently available in 26 countries, but Snapcard plans to launch the platform in additional 30 countries by the end of 2015. With the new feature, Snapcard expects to attract new customers.
“MassPay is perfect for ad networks looking to payout their publishers instantly without having to pay exorbitant fees,” Michael noted. “Digital content companies are now able to streamline their payouts to all of their freelancers, artists and designers all with a simple API call. Additionally, we’ve been working closely with a lot of game developers to make sure the MassPay API will plug in nicely to their gaming ecosystems.”
Established in 2013, Snapcard is committed to make it easier for businesses and average consumers to utilize the digital currency. Besides, it is aimed at expanding people awareness of the cryptocurrency all over the word. Currently, the company has its offices in the US, Canada and Australia.
Tango Card is a Seattle-headquartered company that provides companies with a wide range of various reward solutions. Its services have already been used by about 1000 companies, including Amazon, Fandango, Applebee’s, Best Buy, Fandango and Foot Locker.