Europe-based bitcoin services provider Cashila has recently released a Bitwage-like Euro-to-Bitcoin payroll system, allowing European employees to request their wages to be paid in bitcoin through a simple bank or SEPA payment.
The payment process of the sender or the employer will stay the exactly the same. On the Cashila platform, the receiver will create a payroll request with the inclusion of necessary bank details, including specific reference number, IBAN Bank account number, payment amount, etc.
Once completed, employees and freelancers can export the invoice as a PDF or send it via email to their employers and wait for the payment to be processed by the bank and Cashila.
The users of the platform may also receive bitcoin through a European bank account, by transferring bitcoins to the platform’s Euro Wallet, then immediately converting to Euros.
Through this service called “Reserve Cashila Feature,” the Cashilla team aims to help spur mainstream bitcoin growth in Europe, and protect freelancers and employees from bitcoin price volatility.
Cashila co-founder Jani Valjavec stated:
“This is a faster and cheaper version of banking as we know it. Your version.”
Upon its launch, the service received criticism from the bitcoin community due to its inefficient payment setup. For example, one anonymous Cashila user explained that it is time-consuming and inefficient to generate a reference message for each transaction.
“Give me my own personal IBAN (my own not a catch-all one) with automatic conversion to bitcoin and automatic sending of the bitcoins to a wallet of my choice. That’s what I want.” stated the user.
Have you tried Cashila or any other bitcoin payroll service? Please comment and share your experience below!