Users Earn 5% Cash Back When Paying With Crypto
ATLANTA, December 16, 2020 – BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, announced today that mobile payments app Slide, created by PayPal backed Raise Marketplace, is adding cryptocurrency as a payment option using BitPay. Using Slide, consumers can earn unlimited 4% cashback instantly when paying online or in-store through contactless checkout. Now, customers can earn 5% cashback when paying with crypto through BitPay. The Slide app works with 150 retailers at 100,000 nationwide locations including Lowe’s, Ulta Beauty, Chipotle, and more.
“Crypto offers merchants like Slide a huge opportunity to attract new customers and sales, and with the recent run-up in the value of bitcoin, we are expecting a significant jump in spending for the holiday season as it’s a great time to add crypto as a payment option,” said Sonny Singh, Chief Commercial Officer with BitPay. “BitPay allows Slide to accept crypto as a form of payment without having to hold crypto or pay the high fees associated with traditional payment methods.”
BitPay accepts Bitcoin, Bitcoin Cash, XRP, and Ether, as well as four dollar-pegged stable coins, USDC, GUSD, PAX, and BUSD for payment.
Holiday shopping is an ideal opportunity for crypto customers to make both every day and gift purchases online and in-person easily with Slide. Compared to last year, the National Retail Federation forecasts holiday sales to increase between 3.6% and 5.2% to a total between $755.3 and $766.7 billion.
“With Slide, crypto users can spend their funds on everyday items and holiday gifts from brands that don’t traditionally accept crypto,” said Jay Klauminzer, CEO of Raise Marketplace, LLC. “With a rise in bitcoin usage and value, we chose BitPay to manage the processing of crypto payments because they handle the entire process of getting crypto from the customer and depositing cash into our account.”
In addition to providing a safe, touch-free payment mechanism, Slide enables cash back savings for consumers at a variety of retailers. Crypto funds deposited ahead of time earn an extra 1% (5% total) on every purchase and speed up the payment process at checkout. To pay with Slide, customers select the retailer, enter the purchase amount, and input the serial number online at the point of sale or scan a barcode on their phones. Slide customers can also link to credit cards, Apple Pay, or Google Pay.
Slide is the only mobile payment app that offers unlimited 4% cashback on every purchase. The power of Slide happens at contactless payment systems at 150 retailers in 100,000 nationwide locations, including Lowe’s, Ulta Beauty, and Chipotle. At checkout, users simply select a brand, enter their purchase amount, and input the serial number online to pay easily and quickly at the point of sale or scan a barcode on their phones in-store. They earn consistent rewards on each payment and can instantly cash out their funds to Venmo or PayPal after they’ve earned $15 or apply their earnings toward their next Slide purchase—no uploading a receipt or extra steps required. There are no hidden fees and no limit on the amount of cashback that users can earn. Slide was created by Raise Marketplace LLC, the makers of the Raise mobile app that saves millions of shoppers money on every purchase with discounted gift cards.
Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit bitpay.com.
The BitPay Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Mastercard International Incorporated. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014. Use of the Card is subject to the terms and conditions of the applicable Cardholder Agreement and fee schedule, if any.