Since its introduction in 2015, BitPay’s Payout Service is growing much faster than other services of payment providers in digital currency, which shows that Bitcoin is less used for spending, but more for receiving payments.
BitPay has worked so hard to establish Bitcoin as a means of payment. It has done all the great little things needed to grow: strategic alliances with entrepreneurs of all sizes, and even with big ones like Stream, Microsoft, international airlines and big pay companies like Stripe. If you can pay with bitcoin today, it is much of the merit is from BitPay.
However it still seems that Bitpay has not been the great online payment tool that people expected to start using bitcoin in masse. Most merchants who started accepting bitcoin, are somewhat disappointed by the meager influx of customers paying with the digital currency. Altough we well know that this is a question of knowledge and massification of the use that will eventually come.
Bitpay developed a new service: The payment tools. These tools allow BitPay customers to “make quick and efficient mass payments with bitcoin”. Instead of doing the Exchange of the customer’s bitcoin in dollars, BitPay changes the dollar payments that the platforms use to pay their clients in bitcoin. Instead of helping people pay in bitcoin, BitPay helps to get bitcoin.
This is a major shift in focus. Create a service that is remarkably interesting for affiliate networks. In case you are not familiar with the term, affiliate marketing refers to where an online store or service gives specific links or banners to the partners for promotional purposes. If a partner publishes those links and their readers follow these links and buy something, then the affiliate partner gets a share of the income.
Apart from simple online shopping, there are many advantages in using bitcoin for affiliate networks, which can become a necessity.
The problem of processing many small payments to affiliates in different emerging markets has already motivated some affiliate networks to use bitcoin, since it is a universal digital currency, relatively faster than other payment methods.