Ripio launches new card in Brazil that will give cashback in bitcoin.

[mRTHroo]

Get 5% Bitcoin Cashback on any purchase using Ripio Card in Brazil. And I think this is really a great opportunity for the people of Brazil. bitcoin is one of the best coins in the world that automatically converts Bitcoin to Brazilian Real ($R) through the Visa Network Ripio fiat transaction process. And that's why Ripio expects to have 250k Ripio card users by this year.

And if BTC is 5% cashback then people will save a lot of money and the users of Ripio card will increase a lot. And any new product in the market will automatically reduce the cost.

Ripio joins a developing rundown of organizations and foundations expanding bitcoin contributions in Brazil.

BTC cashback amount for ripio users is limited to BRL 250 per month and this offer will be valid till 31st October.



Brazil The biggest fact behind the creation of this new card is that cashback is being offered to increase the attractiveness of using Ripio card for purchasing all new products in the market.

[bitmover]

BTC cashback amount for ripio users is limited to BRL 250 per month and this offer will be valid till 31st October.

This is very interesting,  thanks for sharing.
The limit of the 5% cashback  amount is of a total expenses of about 1k USD, which is a lot for any Brazilian middle class.

Currently in Brazil most cards offers 1-2% cashback.


I will take a look into it.

[Smartvirus]

An interesting news for sure. I checked them @Ripio up on LinkedIn to know more and they are a wallet/exchange that is very much rooted in Latin America. This development is some encouraging and wonderful one for crypto enthusiast in the region as, it brings used cases to the main stream where, individuals could actually pay for purchases on a debit card but this time, spend fait from a bitcoin wallet with the wallet doing all the exchange. That's impressive although with a little down side to it,

The limit of the 5% cashback  amount is of a total expenses of about 1k USD, which is a lot for any Brazilian middle class.

Currently in Brazil most cards offers 1-2% cashback.

Limits to it, I guess its a way for a state and there LinkedIn page confirms it in this quote,

Ripio OTC, our corporate division, is designed for high-net-worth individuals and institutional clients that operate larger amounts and seek for deep liquidity, fast execution and custom assistance.

Where does that leave the middle and the lower class I wonder? Am sure they would improve there services to eliminate this limit.

[bitbollo]

it is an excellent initiative to help people accumulating a bit of satoshi almost without realizing it. Sadly... there is a limit (otherwise it would have been too good with such amounts ).
who knows when something like this will be proposed here in Italy (years ago a refund was made for those who used the card in live payments even there with a limit ... now they have introduced a lottery! no no there Is no prize in satoshi )