Alibaba joins Lolli platform to reward US users with Bitcoin


According to an official statement from Lolli, users of the service can now benefit from a 5% cashback in Bitcoin (BTC) when they shop at their new partner Alibaba.
This important collaboration was launched on November 11th as part of the Singles Day, an event imagined and created by Alibaba and considered the equivalent of the Chinese Black Friday. However, this offer is currently only available to US residents and not to Chinese citizens.
The importance of this day is huge for the e-commerce business as in just 24 hours its various platforms sold goods for the equivalent of $38 billion, well above the previous record of $30 billion.
In order to be rewarded with Bitcoin, in return for their purchases made through Alibaba, buyers must create an account on Lolli and download a browser extension for Mozilla Firefox or Google Chrome.
Lolli has been born in 2018 and from the start became recognized for allowing its users to collect a small commission in Bitcoin (or should we rather say Satoshis) when they shop online. The company has already partnered with more than 750 leading e-commerce retailers, including Groupon, Walmart and Macy’s.
Several startups compete on the market to offer cashbacks in Bitcoin, so Lolli does have to face some increasing competition in a market that becomes better at receiving and rewarding online buyers in Bitcoin.
One of the best-known competitors is undoubtedly Fold, which recently added the possibility for users to book accommodation on Airbnb and pay with Bitcoin at the end. Fold users, however, get back “only” 3% from the total sum of money they spend on each stay and experience booked on the platform. Unlike Lolli, which is only available in the United States, the application works in most English-speaking countries.
For its part, Alibaba has been hostile to Bitcoin so far and its payment subsidiary Alipay has recently confirmed its decision to ban all transactions identified as being related to Bitcoin. The company, however, has been active in the blockchain business for some time and has also invested in a crypto startup recently.

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