Request Finance, an enterprise crypto payments platform, has collaborated with Fluidity Money, a “spend-to-earn” decentralized finance (DeFi) protocol, to introduce a cashback program. The amount of cashback awarded for every transaction may vary from a few cents to several hundred dollars. It will all depend on the total volume of payments made throughout the program. The rewards will rise as the volume of transactions increases on the platform.
With support from Request Finance, many businesses and DAOs can use stablecoins with ease. The firm has partnered with Fluidity Money to roll out this cashback program, which it describes as a “fun way” of rewarding customers pay using stablecoins.
How Fluidity Money implements its cashback program
Credit card loyalty reward schemes are often funded by high interchange fees, which merchants pass along to customers. Fluidity Money, in contrast, claims to deliver crypto payment apps like Request Finance, a revolutionary reward financing mechanism that disburses stablecoins. It says it can do this without subjecting sellers to hefty charges or buyers to exorbitant interest rates. For instance, when a client pays an auditing firm’s invoice in Request Finance using a Fluidity-wrapped stablecoin, the auditing firm and the client both benefit.
This cash-back scheme enables businesses to provide incentives to customers who pay for purchases using cryptocurrencies. While using the app to make a payment, both parties have the chance to earn stablecoins. When customers pay with cryptocurrencies, businesses can earn rewards in the form of cash. Once they receive a payment, their wallets will be credited with the benefits.
As of right now, stablecoins are used to distribute the cashback. Yet, Fluidity Money intends to broaden its service to include support for additional loyalty programs, which could lead to the distribution of NFTs and other reward kinds in the near future. Fluidity Assets can be integrated into any system, platform, or protocol and are backed by fiat currency at a 1:1 ratio.