Bitwage, a payment solution that allows employees, freelancers and contractors to be paid in a variety of payment methods, has developed a solution to enable people seeking work to provide verified references, according to a blog by Jonathan Chester, Bitwage founder and president. The Bitwage…
Bitwage, a payment solution that allows employees, freelancers and contractors to be paid in a variety of payment methods, has developed a solution to enable people seeking work to provide verified references, according to a blog by Jonathan Chester, Bitwage founder and president.
The Bitwage payment verification solution, “My Employment” (M.E.) generates data about its users that allow them to build trust with potential customers, including information about their work history.
M.E. provides an employee profile allowing the employee to integrate reputation information from clients they already worked for along with freelance marketplaces. By giving prospective customers payment-verified information, employees, contractors and freelance workers can verify who they worked for and how much the previous employers valued their work.
Review-based employee reputation systems, by contrast, are less accurate than payment-based systems. Review-based systems are more subjective and can be manipulated with false accounts. Payment-based systems are based solely on the monetary value the employee earned and are difficult to manipulate since money has to be sent to earn reputation.
Once an employee signs up, they can leverage all their payment reputation information from being paid through Bitwage. The employee can create a profile showing their employers, their payment history, how long they worked for each employer, as well as a Bitwage Verified badge.
Employees and contractors can place the badges on websites, resumes or other profiles to build trust off of the M.E. platform. Bitwage provides a top 10% Volume and a top 10% Transaction badge. Badge holders can show or hide the badges and their employer information at any time.
Users can add more information to their profiles, including uploaded resumes, profile pictures and one liners.
Each profile receives its own URL and has three settings: private, public and link-only. The link-only profiles can only be seen if someone has the specific M.E. profile link. The public profiles are on a public page that anyone can view without signing up. Private profiles are totally private.
Profiles can be searched by name, prior employers, or other keywords from the profiles. The system also includes filters for worker types, country, badges earned and hourly fees.
Prospective employers can message workers directly through their profiles.
Bitwage will cost as low as $9.99 and, for at least the first, year, will waive the 1% local currency output fee.
Bitwage plans to launch a new set of fees with the launch of M.E. The local currency outputs will have a 1% fee, which compares favorably to top exchange rates, saving users up to 5% or more while providing funds as fast as the next day.
Bitwage has also launched its service to the U.S., India, Argentina, Vietnam and the Eurozone in addition to Brazil and the Philippines. Freelancers and contractors working for companies out of Europe and the U.S. can now receive payment in Euro, USD, PHP, BRL, VND, ARP and INR without having to have their clients sign up through the Bitwage invoicing system.
International workers in Europe, the U.S., India, Brazil, Argentina, the Philippines and Vietnam can receive wages through Bitwage from Facebook, Upwork, Google, GE, Gigster and the United Nations Food & Agriculture Organization.
Bitwage processed more than $1 million in payrolls in September of 2015. In August of 2016, it processed more than $1 million in payroll transactions.
Images from Shutterstock and BitWage.
Last modified: January 10, 2020 2:57 PM UTC