Tango Makes Bitcoin Part Of Customer Reward Scheme

Tango Card, a startup that helps businesses reward loyal customers with incentives, has forged a partnership with bitcoin wallet Snapcard in order to make the cryptocurrency available as one of its rewards.

The agreement will allow businesses to choose bitcoin rather than say, an Amazon.com, Inc. AMZN gift card, to use in their reward scheme.

Rewards Scheme

Tango helps companies track all types of metrics and reward people for meeting certain goals. The firm manages the rewards schemes for customers who repeatedly use a service or refer their friends, employee engagement programs, wellness program participation and research and panel incentives. Employers can elect a participating company's gift card or allow their employees to choose for themselves.

Related Link: Move Over Diamonds, Bitcoin Is A Girl's Best Friend

Snapcard

Now, one of those choices will be bitcoin. Users who receive their rewards in bitcoin will setup a Snapcard wallet where the funds will be transferred. The funds can be cashed in using a choice of 15 different currencies for a 0.25 percent transaction fee, charged by Snapcard.

Bitcoin Incentives

The addition of bitcoin to Tango Card's offerings is expected to help promote the cryptocurrency's use. Tango Card VP of Partnerships Nat Salvione said that the company's existing users have been demanding a bitcoin option, and this provides them with a starting-off point.

Still Some Concerns

While bitcoin may be a good fit for certain reward programs, it may not be Tango Card's most popular option. Because of its instability and tendency to fluctuate in price, some could be wary of using the cryptocurrency.