27 Mar '13, 3pm

Expensify adds Bitcoin support to reimburse international workers for less than PayPal

Expensify adds Bitcoin support to reimburse international workers for less than PayPal

Popular expense report startup Expensify now lets employers reimburse international workers with virtual currency Bitcoin , another step that shows Bitcoin’s influence is growing. Expensify was founded in May 2008 with the promise of offering “expense reports that don’t suck.” It makes the expense report and reimbursement process easier for companies with simple-to-use iOS, Android, and web apps. The company has attracted 1.4 million users across more than 200,000 companies to date. But one of the company’s biggest issues is with reimbursement for international employees — PayPal and wire transfers to employees outside of the United States can entail fees of 4 percent or more. Bitcoin — a completely virtual currency that is decentralized — can solve that problem because it doesn’t cost anything to make transfers. “Bitcoin is perfect for international transfers,” Expensify ...

Full article: http://venturebeat.com/2013/03/27/bitcoin-expensify/

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