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Bitcoin Rewards Program Lolli Teams Up with Alibaba

Alibaba, which is a Chinese e-commerce giant and is perhaps the most popular venue in the United States for importing Chinese goods, has teamed up with the popular Bitcoin rewards program Lolli.

Lolli is essentially like a cashback program, which is common among credit cards, except Lolli gives users Bitcoin instead of fiat. This works by Lolli helping to drive customers to companies, and then the companies give Lolli a percentage of each sale. In the end, Lolli splits the percentage with users of the reward program. Lolli is only for online shopping at this point, but has notably partnered with big names like Walmart, Macys, GoDaddy, and over 500 more brands.

Alibaba has for years been vitally important for United States businesses, since raw goods can be shipped in from China via Alibaba at much lower rates than they would cost in the United States. Therefore, Alibaba is a high volume business in the United States, and now apparently anyone who signs up with Lolli can earn Bitcoin on each Alibaba purchase. Alibaba was already lucrative, and basically it just got even better by allowing users to get some free Bitcoin with each purchase too.

Notably, users of Alibaba elsewhere in the world will not be able to use Lolli.

 

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