Global blockchain payments provider BitPay announced on Wednesday it has appointed former Western Union and PayPal executive Rolf Haag as its new Head of Business Solutions. According to BitPay, Haag has nearly 20 years of experience in fintech and will be responsible for the company’s business to business (B2B) and mass payment businesses.
BitPay reported also reported Haag served as a former Director of Global Mass Payments at Western Union and 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, Haag held several product management positions with PayPal where he most recently owned PayPal Mass Payment global disbursements engine. PayPal Mass Payments routinely grew 20-40% per year into a multi-billion dollar payment volume product under Haag’s leadership. Speaking about his new position, Haag stated:
“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.”
“BitPay’s B2B payments solution is our fastest growing product and just had its highest sales month ever 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.”