cryptobriefing.com
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.