In brief
- Slide is adding cryptocurrency payment options through Bitpay.
- The payments app is already used in about 100,000 stores across America.
- These include some of America's largest chains, including Lowe's and Chipotle.
Slide is adding cryptocurrency as a payment option through Bitpay, a crypto payment provider based in the United States.
The Slide app is already widespread across the United States, being used for 150 retailers across approximately 100,000 stores all over the country. These include some of the United State’s biggest chains, including home improvement store Lowe’s, and popular Mexican grill Chipotle. Now customers of these stores can turn to cryptocurrency as a new means of payment.
“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 accepts four of the world’s foremost cryptocurrencies; Bitcoin, Bitcoin Cash, XRP and Ethereum. In addition, four dollar-pegged stablecoins are accepted; USDC, GUSD, PAX and BUSD.
Slide was created by Raise Marketplace, which offers customers the chance to save money and earn rewards on store purchases from their mobile wallet.
According to Jay Klauminzer, CEO of Raise Marketplace, the addition of cryptocurrency payments on Slide is big news for the mainstream use of cryptocurrencies during the festive season. “With Slide, crypto users can spend their funds on everyday items and holiday gifts from brands that don’t traditionally accept crypto,” Klauminzer said.
Slide customers also have the opportunity to generate cash back savings using the app. Crypto funds deposited ahead of time earn an extra 1% (5% in total) on every purchase.
“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,” added Singh.