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BREAKING: Cash out your BSV using eGift Cards
Users always need a way to cash out BSV. Now we have the perfect solution. The eGift Card makes it easy to finance your life with BSV. Mastercard, Amazon, and more.
You can get started now, we’re straight away! https://t.co/x7uC7j4mj8 pic.twitter.com/WU3ZjZRKxB
— HandCash (@handcashapp) April 20, 2023
HandCash have launched a simple web app to instantly purchase digital or physical gift cards via their HandCash Pay stack. Customers can buy Amazon (NASDAQ:AMZN), Visa (NASDAQ:V), Nintendo (NASDAQ:NTDOF) eShop, and Starbucks (NASDAQ:SBUX) among the 1,000 plus cards available worldwide with Bitcoin SV (BSV). Amid the continual de-listing of digital currencies, this feature provides a simple way to cash out via a Visa or MasterCard (NASDAQ:MA) gift card or to a large number of goods or services.
For example, users can purchase up to $0.01 of an Amazon gift card. After clicking Buy with BSV, the HandCash Pay link appears. Either with your HandCash or SimplyCash wallet, simply scan the QR code and pay, then the gift card will be sent directly to your linked email address. If you’re using a mobile device, you can easily open the app and just click Pay instead of scanning the QR code.
This seamless payment process is enabled by the Pay API launched by the team last year, in which arbitrary data (such as email addresses or other customer-related information) is embedded in QR codes and/or web requests. After paying, the remote server is notified of the payment and sends the gift card. This method is much safer and cheaper to process than traditional credit card payment processing, where businesses must link customer information to sensitive data such as card (or token) numbers, CVV codes, and expiration dates. Buying a gift card is free of charge.
For a gift card? ZERO
— HandCash (@handcashapp) April 21, 2023
Any wallet that implements the BIP270 protocol can support gift card purchases, which is why Simply Cash is supported right away. Also, since the payment request is an HTTP call, any third party application can easily implement this. The team will also be adding support for wallets, tokens and other digital currencies.
Due to the flexible nature of Bitcoin output, payments are separate as referrals and automatic cash back prize everything is possible. On the topic of cashback, HandCash Pay supports expiration dates, so companies can run cashback promotional periods to encourage purchases. Furthermore, prize discounts can be made in the same or potential transactions with tokens or non-fungible tokens (NFT) through them upcoming Ordinal supportsuch as awarding the first 100 purchases of a Visa gift card between 11-12 UTC to get a limited edition PayPistol gun NFT.
Gift card purchases will be supported natively in apps and wallets with the release of HandCash 5.0, which was delayed when the USDC integration was discontinued by Circle earlier this year. Fiat on-ramp is still not available, but the requested feature will be available soon. With top-ups enabled again, HandCash will essentially have a good enough on- and off-boarding experience for users to be able to buy and spend their BSV.
Of course, product launches are always met with criticism, and the two biggest ones are that this feature is nothing new and no user wants to “cash out” their BSV when the price is at an all-time low. While it’s true that gift card purchases with Bitcoin have been possible for years, what’s new here is the combination with the flexible Payment API.
The HandCash team was able to start implementing very attractive payment and reward schemes with various businesses. For example, different Payments links can have different metadata attached and/or revenue splits, indicating which channel (direct link, different Twitter account, in-app) users are buying the most from. Timed discounts or unique giveaways can be applied to various special channels to create hype and FOMO (fear of missing out). The possibilities are endless with this technology, and I’m looking forward to what the team does next.
Watch: HandCash opens the Internet of value—here’s how
New to Bitcoins? Check out CoinGeek Bitcoins for Beginners section, the ultimate resource guide for learning more about Bitcoin—as Satoshi Nakamoto originally envisioned it—and the blockchain.
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