The home-sharing giant’s platform is now catalogued on Fold Kickbacks. The scheme is integrated with Bitcoin’s second layer Lightning Network (LN), thereby facilitating purchase of gift cards for Bitcoin with 3% cash back. Currently, Fold provides $25 or $100 gift cards on its platform.
Unveiled in July 2019, the Fold Kickbacks program already backs some key name retailers such as Starbucks, Uber and Amazon.
Nevertheless, the app works in chosen nations including Australia, the US, Ireland, Canada, the UK and Mexico. In the near future, the company anticipates to unveil services in Europe.
Fold got $2.50 million in funding back in the final week of September 2019. The money was raised to spend on the development and incorporation of new features in the platform, including a fiat currency payment option.
The latest feature enables Fold customers to expend both fiat money and Bitcoin on ecommerce websites and other online services by linking credit card or Bitcoin Lightning wallet. Currently, Fold app only supports Bitcoin.
Even though Fold is one of the oldest Bitcoin shopping rewards apps dating back to 2014, it is not the only one to offer satoshis as rewards.
Lolli, as we reported earlier today, is another app offering Bitcoin as shopping rewards. Earlier Lolli collaborated with the US pet retailer Petco in late August. Lolli also unveiled support for top US grocery chain Safeway to offer clients with 3.5% cashback in Bitcoin on all purchases.
Earlier this year, Japan based Amaten, biggest gift card platform, revealed its plan to disburse tokenized gift cards in collaboration with blockchain network provider Aelf.