![]() ![]() Previously, Sonny was the Vice President of Sales and Business Development at Jumio. Sonny is the currently the Chief Commercial Officer of BitPay where he is responsible for managing all sales and business development for the company. ![]() Though this may not come as a complete surprise since bitcoin transactions have been sharply increasing as a whole in recent years. Sonny Singh, chief commercial officer of BitPay Inc., speaks during a Bloomberg West Television interview in San Francisco, California, U.S., on Thursday, June 16, 2016. He has been a member of three founding sales teams and specializes in helping to take new products to market. Bitcoin Payouts Volume Up 1800%īiPay, which is currently the largest bitcoin payment processor in the world, notes that it experienced 1800% growth in bitcoin payouts volume between 20. “This led to a dramatic increase in advertisers and affiliates paying and receiving bitcoin, which has now become one of the most effective ways to pay online in Turkey,” he notes. The CCO cites Turkey as an example, which in the summer blocked its citizens from using PayPal. He also agrees that bitcoin demand and usage were at a low last year and although crypto volatility has been a continuing trend into the new year, prices could still steadily rise over the course of 2019. This can help small businesses provide customers with better service and more flexibility, particularly in regions where the monetary system is not inclusive or under severe stress. Bitpay CCO Sonny Singh has stated that the 20,000 bitcoin price at the back-end of 2017 and the price fluctuations throughout 2018 were a bit of an anomaly. So clients only have to fund once, pay a 1% fee, and be done without having to wait for days as with traditional payment methods. Bitcoin Boosts Global Economic Inclusionīitcoin processors like BitPay can offer merchants services fees of on average between 1% – 2% compared to credit cards, which range from 2% – 6%, Singh explains. This not only makes transactions faster, more reliable and cheaper, but also eliminates the concept of political borders…and politics in general.įor fast-growing ecommerce affiliate markets like Brazil, Argentina, India, and China, bitcoin presents an exciting alternative. Bitcoin, on the other hand, solves this problem by removing fee-siphoning middle men. ![]()
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