lolli, a Bitcoin Back app, signed in Chinese e-commerce giant Alibaba as a new partner to the list of brands they work with.
The partnership was announced via a blog post on Lolli’s website on the eventful Singles Day (Nov. 11), a non-official Chinese holiday celebrating singlehood. Remarkably, the occasion has also become the largest online shopping day in the world that hit a new record of $38 billion in sales on Monday.
Lolli’s team-up with Alibaba would allow U.S.-based users who purchase on the Chinese platform to earn 5% back in Bitcoins.
CEO and Co-founder of Lolli, Alex Adelman, said, “I’m excited to partner with Alibaba on Singles Day and offer the opportunity to earn bitcoin back to its shoppers. This is a milestone partnership for Lolli as Alibaba is the largest retailer and e-commerce company in the world, launching on Single’s Day, the world’s largest shopping day of the year.”
“Our partnership allows our users to earn free bitcoin on millions of products online every day. Arguably the most important piece of this partnership is that it supports our mission of connecting the entire world through commerce.”
How does it work?
Lolli is a web browser extension that can be added to Chrome or Firefox. Safari used to be a browser they support. Once installed, it notifies users if they are browsing a partner site. If there’s a transaction with a brand Lolli works with, users will earn a percentage of their money back in BTC. Lolli also generates revenue in the same way by sharing a portion of the sale.
Some of the brands that Lolli is already partners with include Walmart, Groupon, Toms, Hilton, Macy’s, Office Depot Office Max, Hotels.com, GAP, Old Navy, SeatGeek and other brands that comprise a total of more than 500.
Lolli’s service is similar to MoonPay, another web extension involving cryptos. The difference between the two is that MoonPay is more of like a conduit for transacting using cryptos on sites that don’t accept it. Users can pay with Bitcoin, Litecoin, Ethereum, and Bitcoin Cash through MoonPay and get a 4% Bitcoin Back.