The Atlanta-based crypto payment services company Bitpay has announced that Bitpay’s prepaid cardholders are eligible for cash back rewards if they use their card with participating retailers. The rewards feature stems from Bitpay’s partnership with Cardlytics and cardholders can get up to 15% in cash back rewards on purchases from the service from thousands of retailers.
Bitpay partners with Cardlytics in offering Cashback Rewards for Bitpay Card users who shop at select merchants
Bitpay, a crypto payment company, announced Wednesday that it has partnered up with Cardlytics (Nasdaq : CDLX), a publicly traded company. This partnership will allow Bitpay cardholders to receive cash back rewards from certain retailers. Cardlytics manages the cash reward platform. Bitpay cardholders get 15% cashback on all purchases made at participating merchants.
Cardlytics is partnered with thousands of unique merchants such as Adidas, Costco, Office Depot, Shake Shack, Sam’s Club, Finish Line, and H&M. Farrell Hudzik (EVP, financial institutions, Cardlytics) explains that you get rewards when using the Bitpay cards at particular merchants. “Working with Bitpay, we offer their crypto cardholders a customized shopping experience where they can earn cash back making the Bitpay card easy to use anytime they shop,” Hudzik said in a statement on Wednesday.
Hudzik was the Cardlytics Executive.
Our platform has thousands of brands and we are constantly looking for new merchants that can benefit existing and new cardholders.
Bitpay CEO Declares That Crypto-Centric Prepaid Cards Offer Crypto Enthusiasts Additional Rewards
Bitpay, which has been offering prepaid cards for many years, first started by Visa. Now Bitpay cards are tied to the multinational financial services corporation Mastercard’s system. Bitpay, a company based in Atlanta, has been offering a cryptocurrency-fueled prepaid credit card. However rewards were not offered by Bitpay prior to Cardlytics’ announcement. Crypto.com is one of the crypto-prepaid card companies offering rewards to cardholders for their spending. Crypto.com does not just offer reward payments in Cronos (CRO), the company has also partnered Cardlytics as of March 30, 2022.
Bitpay recently added two new crypto assets to the company’s lineup of supported digital currencies which include apecoin (APE) and euro coin (EUROC). That means in addition to being able to load Bitpay’s prepaid card with BTC, BCH, WBTC, XRP, LTC, SHIB, DOGE, ETH, BUSD, DAI, GUSD, USDC, and USDP, Bitpay cardholders can also load their cards with APE and EUROC.
Bitpay announced Lightning Network support April 6. This allows Bitpay App customers to use the Lightning Network to receive bitcoin payments. Bitpay revealed to the media that Bitcoin (BTC), payments have declined since 2021. Bitpay App transactions for bitcoin were reduced from 93% in 2020 to just 65% over the course 2021.
Stephen Pair, Bitpay CEO, explained Wednesday that cardholders are given incentives by the rewards system to use the crypto-centric Mastercard prepaid Mastercard.
“Cryptocurrencies are becoming increasingly popular and widely used as many like the option to live life on crypto,” Bitpay’s CEO remarked. “Adding a reward program through Cardlytics offers crypto enthusiasts another incentive to get and use the Bitpay Card. It’s easy, just load the Bitpay Card with crypto, spend with dollars, get cash back and see rewards in the Bitpay app.”
Are you a Bitpay cardholder? What are your thoughts on Bitpay offering rewards in cash for Cardlytics Cardholders? Please comment below to let us know your thoughts on this topic.
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