ATLANTA--(BUSINESS WIRE)--BitPay, the largest global blockchain payments provider, today announced the appointment of Rolf Haag to the position of Head of Business Solutions. In this position, Mr. Haag is responsible for managing BitPay’s Business-to-Business (B2B) and Mass Payments businesses. With close to 20 years of experience in financial technology, Mr. Haag is a seasoned professional who has built and grown global payments products at Western Union and PayPal.
“BitPay’s B2B payments solution is our fastest growing product and just had its highest sales month ever in October,” said Stephen Pair, CEO and co-founder of BitPay. “Rolf’s background is an asset to BitPay and will help us accelerate the success of our B2B and Mass Payments businesses globally.”
As a former Director of Global Mass Payments at Western Union, Mr. Haag built a global mass payments business and underlying product. This included defining the global B2B and Business-to-Consumer (B2C) mass payments vision, product and go to market strategies. Prior to Western Union, Mr. Haag held several product management positions with PayPal where he most recently owned PayPal Mass Payment global disbursements engine. Under his watch PayPal Mass Payments routinely grew 20-40% per year into a multi-billion dollar payment volume product.
"I see striking similarities in early PayPal adoption and BitPay adoption especially among businesses paying their global suppliers. Bitcoin is ground breaking for global B2B and Mass Payments, because its cheaper, quicker and more transparent than bank wires or PayPal. BitPay compliantly delivers these benefits while eliminating Bitcoin price risk. I’m beyond excited to bring these benefits to businesses around world,” said Mr. Haag.
Mr. Haag received numerous awards throughout his career including a President’s Choice Award at Western Union. He has a BS in Management Science from the University of California, San Diego and an MBA from Santa Clara University.
Global businesses use BitPay’s B2B solution to pay invoices around the world where it’s cheaper and quicker than a bank wire. The invoices normally range from $50,000 to $5 million for a simple 1% fee and settle the next business day to their bank account. BitPay’s mass payments product allows global marketplaces to pay out their customers in Bitcoin for only a 1% fee to any non-sanctioned country in the world.
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.