Bitpay Reveals Prepaid Cardholders Can Get Up To 15% Cash Back Through Select Retailers – Bitcoin News


Atlanta-based crypto payment services company Bitpay has announced that holders of Bitpay prepaid cards are eligible for cashback if they use their card at participating retailers. The rewards feature stems from Bitpay’s partnership with Cardlytics, and cardholders can earn up to 15% cash back on purchases made with the service from thousands of retailers.

Bitpay Partners with Cardlytics to Offer Cash Back to Bitpay Card Users Shopping at Select Merchants

On Wednesday, Bitpay announced that the crypto payments company has partnered with publicly traded company Cardlytics (Nasdaq: CDLX) to provide Bitpay cardholders with cash rewards options from specific retailers. Cardlytics will manage the cashback platform, and Bitpay cardholders can earn up to 15% cashback on purchases whenever they visit participating merchants.

Bitpay reveals prepaid cardholders can get up to 15% cashback through select retailers

Cardlytics partners with thousands of unique merchants such as Adidas, Costco, Office Depot, Shake Shack, Sam’s Club, Finish Line, and H&M. Farrell Hudzik, executive vice president of financial institutions at Cardlytics, explains that it’s easy to get rewards for using the Bitpay card at specific merchants. “By working with Bitpay, we’re giving their crypto cardholders a personalized shopping experience where they can earn money, making the Bitpay card easy to use every time they shop,” said Hudzik said in a statement Wednesday.

Cardlytics executive Hudzik added:

We have thousands of brands on our platform and are always researching where consumers buy to add new merchants to benefit new and existing cardholders.

Bitpay CEO Says Rewards Give Crypto Enthusiasts Another Incentive to Use Crypto-Centric Prepaid Card

Bitpay has been operating a prepaid card for years and initially started offering the services through Visa. Now, Bitpay cards are linked to the system of the multinational financial services company Mastercard. While the Atlanta-based company offered a crypto-powered prepaid card, Bitpay did not provide rewards prior to the announcement with Cardlytics. Other companies that provide crypto prepaid card services like Crypto.com offer cardholders rewards for spending. Crypto.com not only offers cronos rewards (CRO) payments, but the company also partnered with Cardlytics on March 30, 2022.

Bitpay recently added two new crypto assets to the company’s range of supported digital currencies, including Apecoin (APE) and Euro Coin (EUROC). This means that 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 also revealed Lightning Network support on April 6, which allows users of the Bitpay app to take advantage of bitcoin payments through the Lightning Network. Lightning Network support was added after Bitpay told the press that the use of bitcoin (BTC) payments declined in 2021. The bitcoin used for purchases through the Bitpay app fell by 93% in 2020 to 65% during 2021.

Stephen Pair, CEO of Bitpay, detailed on Wednesday that the rewards system incentivizes cardholders to spend with the crypto-centric prepaid Mastercard.

“Cryptocurrencies are becoming increasingly popular and widely used as many love the option of living their life on crypto,” the CEO of Bitpay remarked. “Adding a rewards program through Cardlytics gives crypto enthusiasts another incentive to get and use the Bitpay card. It’s easy, just load the Bitpay card with crypto, spend dollars, get cashback and view rewards in the Bitpay app.

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What do you think about Bitpay offering cash back to cardholders by partnering with Cardlytics? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Manager at Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,700 articles for Bitcoin.com News about disruptive protocols emerging today.




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