Snapcard has partnered with digital rewards company Ifeelgoods to enable bitcoin as a reward for consumers.
Snapcard launched its wallet offering earlier this year to complement its merchant service, which aims to increase bitcoin adoption through tablet-based point-of-sale (POS) systems. The startup, which secured $1.5 million in funding last year, at one point envisioned turning San Francisco into a Bitcoin hub through a promotion to merchants.
However, it appears to have found more traction in tapping the rewards niche, recently partnering with Tango to enable bitcoin as a reward to shoppers. The integration is supported by Snapcard’s MassPay API, which allows consumers to hold rewards in several fiat denominations, which can then be sent to others via SMS or e-mail, or cashed out for a 0.25% fee.
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Ifeelgoods provides solutions both for companies looking to run rewards or loyalty programs, and well as platforms such as Facebook, Amazon, Google, Skype and iTunes.
Ifeelgoods has been traditionally available in select countries, but according to CEO and co-founder Michael Amar, this changes with bitcoin. He commented:
“Bitcoin is a first-rate addition to the Ifeelgoods’ rewards catalog that aims to gather all the premium digital content available. Most importantly, we’re delighted to enrich our catalog with the first reward redeemable in any country to help us meet the growing demand of brands looking to launch global rewards campaigns and programs.”