Share this article
Bitcoin rewards application Lolli has added eBay to its list of partner stores, offering 1% cash back rewards in BTC for online purchases on eBay.
Lolli Incentivizes Bitcoin
Lolli is a Chrome, Firefox, and Microsoft Edge extension that rewards users in Bitcoin for shopping online with the company’s partner stores.
These stores include GoDaddy, Groupon, Staples, Adidas, Udemy, Expedia, and others.
With eBay’s addition, the Bitcoin business looks to expand its user base by tapping into eBay’s 127 million customers. The CTO and co-founder of Lolli, Matt Senter, noted that:
“We’re proud to launch with eBay just in time for Black Friday and Cyber Monday as a treat to our loyal Lolli shoppers. We’ve been working tirelessly to make this integration possible in time for people to earn bitcoin on all their holiday shopping this year. This is the way.”
Lolli’s business model involves tapping into the cost benefits of Bitcoin payments.
Card payments are expensive for merchants as it costs them up to 2% for every transfer. An international wire transaction fee in the U.S. is as high as $45, while domestic payments are also expensive, touching nearly $15.
With BTC, there is no expense for the merchants, and cross-border transfers are significantly cheaper.
Thus, the affiliate merchants pay for promoting Bitcoin for every online purchase made while the chrome extension is “activate.” Lolli, in turn, returns part of this amount to users as incentives for using the application.
Theservice is currently available only in the U.S.
BitPay Integrates XRP for Merchant Payments
BitPay announced the introduction of XRP to its merchant processing and cross-border payments platform. Transacting with the Currency of Choice In October 2019, Xpring, an initiative launched by Ripple to…
As Consumers Turn to Bitcoin, Will Merchants Follow?
Due to the latest market volatility in crypto markets, many Bitcoin exchanges and fiat on-ramps have experienced high volumes. Critically, new users have made up the bulk of this volume….
Avoiding Common Trading Mistakes
Being a successful trader is one of the most difficult pursuits that any person can undertake. The path to success is littered with countless examples of even those who are…