Innovation

How Currencycloud enables international bug bounty hunters to get paid

White hat hackers often don't live in the same countries as the companies they work for, which can make payments complicated. Here's how one company is making international payments easier.

Currencycloud co-founder and general manager Rich Arundel recently spoke with TechRepublic's Dan Patterson about how his company's technology makes international payments easier, enabling companies to pay bug bounty hunters living in other countries. This is the second part of their conversation. For the first part, see this article: Freelance hacking is a big business. Here's how people get paid to do it

Patterson: How does the Currencycloud ecosystem disrupt the current bug bounty ecosystem?

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Arundel: If we step back and have a look at how these guys are getting paid, in this gig economy you have hackers all around the world. Now, sending an international payment should be pretty simple, right? But often this is a big pain point for businesses because it's slow, it's costly, and in this era of global commerce you're dealing with multiple currencies. You have these compliance and regulatory burdens. Where Currencycloud fits in is we distill these complexities into simple, easy-to-use components all through the use of technology. We have APIs for the FX conversion, we have APIs for validation of bank account information, and we have APIs for the processing of these mass payments. Effectively, we're doing the hard work [accepting] payments so these guys don't have to and they can focus on their cool business.

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About Dan Patterson

Dan is a Senior Writer for TechRepublic. He covers cybersecurity and the intersection of technology, politics and government.

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