BitPay, a global leader in bitcoin payment processing, has announced that two payroll service providers, Zuman and Incoin, are now using its payroll API to enable employees to receive any portion of their wages in bitcoin. Zuman is a cloud-based HR solution that handles payroll, benefits, and talent management for high growth companies.
“Offering employees choices through payment alternatives on payday is a part of what Zuman is all about,” said Doug Devlin, co-founder and CEO of Zuman. “Through our partnership with BitPay, we will be able to better help companies that are moving beyond their startup phase attract and retain high value employees.”
Incoin offers a user interface for employers to pay their employees without the need to switch payroll providers.
“Incoin is the best option for any employer who wants to give more freedom and incentives to employees,” said Cody Littlewood, CEO of Incoin. “BitPay has been a crucial partner to us. Their knowledge and commitment to Bitcoin, combined with their integration options, were deciding factors for us to use BitPay’s API versus competitors.”
BitPay’s Payroll API supports multiple currencies and can send payments to any bitcoin wallet. Employees who opt to take a portion of their after-tax earnings in bitcoin will have it deposited into their bitcoin wallet each pay cycle. BitPay’s API makes the exchange rate available to the employer, so that the employee can properly account for the cost basis of the bitcoin that they earned.
“There’s no need to buy bitcoins any longer, when you can receive them as part of your normal paycheck,” said Tony Gallippi, Co-Founder and Executive Chairman of BitPay. “With Zuman and Incoin, employers can enable employees to have bitcoins automatically sent to any bitcoin address, in any bitcoin wallet, worldwide.”