Snapcard, a bitcoin payment processor and e-wallet provider, has launched a new enterprise-level cross-border payout solution built on top of the blockchain network.
Snapcard said that MassPay API instantly and programmatically allows merchants to send mass payments to a phone number or e-mail address without taking on any exchange rate volatility risk.
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Dubbed as MassPay, the new platform has been launched in partnership with Tango Card, a rewards-as-a-service platform.
With this platform, recipients can instantly receive funds and also withdraw funds to over 15 local currencies for a fee of less than 0.25%.
According to the company, the platform will allow merchants to hold funds in US dollars, Australian dollars, Canadian dollars and euros and automatically disperse payouts with a single API call.
Snapcard CEO Michael Dunworth said: 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. We saw the opportunity for MassPay when we noticed partners being unable to payout customers efficiently.
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By GlobalData"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."
