Fold offers Bitcoin cashback rewards for consumers who use mobile apps to shop at Amazon, etc.

On July 31st, the encrypted payment startup Fold launched a portal to purchase Domino's pizza using Lightning Network in February, and now the company is shopping for mobile apps using Amazon, Uber, Starbucks, Burger King, REI and Target. Provide bitcoin cashback rewards. Fold's app will automatically direct rewards to the user-specified external wallet. According to Will Reeves, Fold product director, “This is similar to jackpot points, but these are all priced by Satoshis. They can be used for purchases within Fold or for actual bitcoin wallets.” The browser application Lolli already provides this functionality for desktop users and is developing its own mobile app. Lolli provides a wallet in the browser and can also be used to send Bitcoin rewards to external wallets. Reeves believes that competitors like Lolli have adopted the existing franchise model, while Fold is seeking to establish a new payment system. “Soon, Fold users will be able to spend any currency of their choice directly at these retailers and get free bitcoin. With all the fun of shopping and rewards, we intend to introduce a new consumption model.”