Payments

More fintech firms are offering crypto rewards on debit and credit cards

  • A growing number of fintechs are providing bitcoin rewards on debit or credit card purchases.
  • Unifimoney is the first to offer credit card rewards in three different asset classes.
close

Email a Friend

More fintech firms are offering crypto rewards on debit and credit cards

Thanks to the rapidly growing demand of cryptocurrencies, many fintech firms are offering crypto rewards on their debit and credit cards. A few months back, Quontic became the first bank to offer bitcoin rewards on debit card purchases. Coinbase has launched its own crypto debit card, and the Winklevoss brothers’ crypto firm Gemini is launching a credit card that lets you earn up to 3% back in bitcoin for every dollar spent.

Crypto management platform BlockFi was one of the first to announce its own bitcoin rewards credit card, which will begin shipping to U.S. consumers in Q2 2021. “Cardholders will earn 1.5% cash back on all purchases that will automatically be converted to bitcoin and placed into a BlockFi account every month,” said Zac Prince, co-founder and CEO of BlockFi. “Since bitcoin earned from card transactions is deposited into a BlockFi account, it’s regarded as standard crypto funding, and it can be withdrawn, traded, or used as collateral toward a crypto-backed loan.”


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account

0 comments on “More fintech firms are offering crypto rewards on debit and credit cards”

Payments

Emphasizing high APY, Amex debuts checking account for SMBs

  • Kabbage Checking offers one of the highest APYs available to SMBs with 1.1 percent interest on balances up to $100,000.
  • SMBs can also access a line of credit between $1,000 and $150,000.
Shehzil Zahid | July 07, 2021
Payments

Capital One launches new flexible payment options for small business customers

  • Cash flow problems are among the biggest challenges facing small businesses, particularly during the pandemic.
  • Payments startup Melio will provide access to accounts payable and receivable cash flow management tools for Capital One’s SMB customers.
Ismail Umar | June 29, 2021
Payments

Affirm’s new deal with Shopify bakes it into Shop Pay Installments

  • The partnership gives Affirm a new distribution route with access to 1.7 million merchants.
  • A Barclays report says investors are underappreciating the partnership but that there’s no need.
Shehzil Zahid | June 24, 2021
Member Exclusive, Payments

Revolut moves into e-commerce with Revolut Shopper

  • Revolut Shopper allows users to find online discount deals while offering security with single-use virtual cards.
  • Other new features include purchase protection, username personalization, and the ability to track spending.
Ismail Umar | May 27, 2021
Member Exclusive, Payments

Splitit launches new integrated payment gateway for installment payments

  • Splitit Plus integrates Splitit’s signature installments platform with a payment gateway.
  • Key features include a quick set-up and seamless integration.
Shehzil Zahid | May 14, 2021
More Articles