Atlanta-based payments firm BitPay has hired former PayPal and Western Union executive Rolf Haag as Head of Business solutions. Haag’s job will be to beef up the company’s business in the small business space. Haag has extensive experience in the payments space, including in developing solutions for SMEs. More recently, his managerial positions have involved integrating financial technology into legacy systems at companies. His former employer, Western Union, does not process cryptocurrency-related transactions, however.
“I see striking similarities in early PayPal adoption and BitPay adoption especially among businesses paying their global suppliers,” stated Haag. According to him, BitPay offers the benefits of bitcoin and eliminates the price risk associated with it in a compliant manner. “I’m beyond excited to bring these benefits to businesses around the world,” he said.
BitPay processed transfers worth $300 million from its B2B clients last year. Sonny Singh, the company’s chief commercial officer, expects that figure to go up to $4 billion this year. Stephen Pair, the company’s CEO, stated in a press release that the company had its highest sales month in October. “Rolf’s background is an asset to BitPay and will help us accelerate the success of our B2B and Mass Payments businesses globally,” he said.