Pey wants to make salary transformations in Bitcoin possible

Companies that want to pay their employees a portion of the salary as Bitcoin, can test a new service of Startups Pey. The german Startup Pey will make it easier for companies to pay part of the salary in Bitcoin or to provide employees with Bitcoins as non-cash benefits. For this, Pey cooperates with the payment processor Bitpay and uses its “Payroll API” named service. So the company could make the exchange of euro into crypto money, as well as the Bitcoin payment to the employee.

With the service Pey will primarily address to digital and marketing agencies that want to offer their employees a different kind of gratification. In addition, one wants to lower the entry barrier to ever come to Bitcoins. Registration and exchange make at a Bitcoin exchange is indeed often quite cumbersome. In the early phase, the service should still be free of charge, later a Euro per employee per month was being considered, said Pey-Chief Ricardo Ferrer Rivero on demand.

If the employer providing the service, the workers concerned must then log in to the Pey platform and specify how much of the net salary to be converted. They must also, of course, have a wallet application and pay a Bitcoin address for payment. Employees should also have in mind that payments in Bitcoin via pseudonymous addresses run – nevertheless transactions over the cash book of the block chain is publicly available. The employer could theoretically gain insight, what happens to the money paid, if you do not take precautions.

Facebooktwittergoogle_plusredditmailby feather

Leave a Reply