In a recent development, NOWPayment revealed that its employers can now use its solution to pay employees’ salaries in XRP.
Per the recent blog post, NOWPayment stated that paying salaries in XRP would help to boost companies’ efficiency while reducing transaction costs.
NOWPayment Now Offer Payment Of Salaries With XRP
Paying employees’ salaries in XRP comes with numerous perks, including eliminating the delay associated with the traditional financial system by offering rocket-fast transactions, NOWPayments said. Other benefits associated with paying salaries in XRP include security, low transaction fees, borderless payment, privacy, and transparency.
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The excerpt from the post noted; “[Paying salaries in] XRP allows you to significantly reduce transaction costs, increase the efficiency of financial transactions, as well as get rid of a large number of intermediaries,”
Guide on how to pay salaries in XRP
- Register a NowPayments account through the official website.
- Navigate to the settings menu and generate an API key
- You must set up the “Custody feature on the Dashboard.”
- Deposit XRP into your NOWPayments account.
- Navigate to Custody and click “Create Mass Payouts.”
- Upload the .csv file generated earlier in the provided field.
- Input the employees’ XRP addresses and the amount you want to send to each of them.
- Click proceed, and the payment and NOWPayments will automatically forward the funds to your employees.
It is worth noting that NOWPayment’s support to the crypto industry has been imminent over time. Cryptolifedigital recently reported that the platform initiated the payment of salaries with Shiba Inu.
It was a break then as the community of Shiba Inu was pleased with the update. Following the announcement, there was a lot of adoption from various platforms to Shiba Inu which lead to increased use cases of the coin.
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The new payment platform supports over 75 cryptocurrencies, including Bitcoin, Ethereum, XRP, Shiba Inu, etc. Aside from allowing businesses to pay salaries in crypto, NOWPayments also offers businesses the opportunity to accept crypto payments in exchange for goods and services.