BitPay,
the largest global blockchain payments provider, today announced Refundo,
a leading provider of tax related financial products, is making federal
and state tax refunds available in Bitcoin directly to taxpayers through
BitPay’s Payouts. Refundo
taxpayers can receive all or a portion of the federal and state tax
refunds in Bitcoin using Refundo’s CoinRT product.
“We are thrilled to power Refundo’s CoinRT product. Refundo can now
offer their customers a Bitcoin Payout for their tax refunds, meeting
their customers’ demand for a more digital choice,” said Rolf Haag, Head
of Business Solutions at BitPay. “Refundo’s integration joins existing
BitPay Payouts used in global marketplace, affiliate programs and
payroll, highlighting the high-speed and low cost of Payouts in Bitcoin.
Whether they’re going around the corner or around the globe.”
Refundo emphasizes speed, low transaction fees, and serving the
underbanked. By creating transparent and seamless experiences during tax
season, underbanked customers are feeling more comfortable with payout
processes. Most importantly, Refundo focuses on listening to the banking
needs of low-income communities and serving them the best way possible,
so anything that promotes and bridges this gap, is always on their radar.
“Refundo offers several options to help taxpayers receive their tax
refunds safer, faster and more conveniently,” said, Roger Chinchilla,
CEO at Refundo. “Adding Bitcoin was a natural fit for our customers who
often do not have traditional checking accounts, pay high check cashing
fees and regularly send money internationally. CoinRT enables them to
get Bitcoin quickly and easily for one flat fee.”
Through Refundo, taxpayers create an account and are assigned a unique
routing and account number to input on their tax return. Customers also
provide all necessary background details for Know-Your-Customer
Regulations as well as a Bitcoin wallet address. Once the IRS or state
deposit the refund, BitPay processes the payment and the cryptocurrency
is deposited into the taxpayers’ Bitcoin wallet.
Global businesses use their Dollars, Euro or other currency to fund
BitPay’s Mass Payouts to Bitcoin for a simple 1% fee. Bitcoin is ideal
for domestic and cross-border Mass Payouts because it is quicker, easier
and more transparent than most mass payment methods. Bitcoin provides
transactional transparency as every transaction is verified, recorded
and stored on the blockchain. The transaction itself contains no
sensitive personal information.
About Refundo
Refundo is a leading provider of tax related financial products and
services. Founded in 2011, Refundo provides taxpayers and tax
professionals products like: refund advances, refund transfers, payment
processing, audit assistance, and a white-label mobile app to help
connect tax business with their clients. Refundo has raised over $65
million to advance their mission of serving low-income communities
nationwide. For more information, visit https://refundo.com/.
About BitPay
Founded in 2011, BitPay is the pioneer and the most experienced company
in bitcoin and blockchain payments. Its suite of products enables
businesses to send and receive cross border payments, also enabling
consumers to manage digital assets with the BitPay Wallet and turn
digital assets into dollars with the BitPay Prepaid Visa® Card. The
company has offices in North America, Europe, and South America and has
raised over $70 million from leading investors including Founders Fund,
Index Ventures, and Aquiline Technology Growth. For more information
visit https://bitpay.com.
The BitPay Visa® Prepaid Card is issued by Metropolitan Commercial Bank,
member FDIC, pursuant to a license from Visa, U.S.A. Inc. “Metropolitan”
and “Metropolitan Commercial Bank” are registered trademarks of
Metropolitan Commercial Bank © 2014. Use of the Card is subject to the
terms and conditions of the applicable Cardholder Agreement and fee
schedule, if any.
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