Airbitz, the mobile bitcoin wallet, has integrated Fold, the Starbucks gift card app that accepts bitcoin payments, into its own app. In announcing the Fold offering, Airbitz said it will be helpful for people new to bitcoin and will encourage more consumers to start using bitcoin. The Fold app also allows users to receive discounts at Target and Whole Foods Market.
Airbitz Streamlines The Fold Process
Airbitz has further streamlined the process for using Fold, even though the process is fairly simple to begin with, Airbitz noted in a blog post. By using Airbitz’s buy-and-sell feature, users can link the service to their bank account and buy gift cards directly.
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In addition to these discounts, the Airbitz app also allows customers to buy and sell bitcoin through Glidera, another bitcoin wallet.
To launch the Fold integration, Airbitz has developed Starbucks-inspired aprons, according to International Business Times. In addition, more than 100,000 flyers will be distributed outside coffee shops in the next few weeks.
How It Works
Under “settings” in the Airbitz app is an option to select “buy/sell/spend.” The settings are on the left side for Android devices and on the right side for iOs. Users can then select either up to 20% off on Starbucks or 20% off on Target. Funds can be added by selecting the desired amount for a gift card. Leftover funds can be credited back to the Airbitz app.
Starbucks customers can load bitcoin onto the Fold app, which then transfers the purchase amount from the customer’s bitcoin wallet to a virtual Starbucks gift card. The customer then takes their smartphone to Starbucks and has the barcode scanned by a barista. Fold sends refunds to the customer’s wallet.
Fold Gains A Following In Last Year
Starbucks customers have posted comments on Reddit and elsewhere that they have been using the Fold app, which relaunched in September. The first version, coinforcoffee.com, launched more than a year ago.
The Fold website notes that it is not affiliated with Starbucks, Target or Whole Foods Market. Starbucks declined to comment when CNN reported the Fold app relaunch.
Fold plans to expand its retail offerings beyond Starbucks, Target and Whole Foods Market.
Images from Shutterstock and AirBitz.