Bitcoin shopping platform Purse.io today announced a partnership with leading Indian cryptocurrency exchange Unocoin. Bitcoiners can use Purse to get 15-22 percent discounts on Amazon.in.
Purse and Unocoin Want to Encourage More Indian Bitcoin Use
Bitcoin use in India is growing rapidly, so Purse wants Indian residents to take advantage of its e-commerce platform. By the same token, the company said it is dedicated to providing a seamless shopping experience for bitcoin users.
Amazon is steadily becoming one of the largest online marketplaces in the region. The company also recently announced it would comply with Indian e-commerce rules, which allow greater foreign investment but restrict the discounts merchants can offer directly.
Purse leverages unspent gift card liquidity to provide Amazon discounts. The platform matches buyers with individuals who have illiquid gift card balances, then orders items at a discounted rate. The card holders receive bitcoin, which they can then exchange for rupees using Unocoin.
Purse founder and CEO Andrew Lee spoke with Bitcoin.com and said:
We’re thrilled to partner with Unocoin to drive global Bitcoin adoption. India has been a critical market for us on the gift card seller side of the marketplace, and recently we’ve seen triple digit percentage monthly growth on Amazon.in. We’re excited about continuing to drive global user adoption through clear cut use cases and partnerships.
Unocoin Expansion Plus Purse Discounts Will Complement Indian Bitcoin Ecosystem
Unocoin’s business is expanding, and the company has recently added new features. This includes an OTC marketplace and a new iOS app.
Abhinand Kaseti, Unocoin co-founder and CMO, said the Indian Bitcoin exchange has put a lot of effort into expanding the business. By collaborating with Purse, Unocoin is finding ways its customers can save more money.
Another use case is Amazon’s Mechanical Turk, which pays users to complete tasks only humans can perform. India has a large population of “turkers” across the country. Purse will assist turkers by offering a secure way to convert their earnings. The company explained this will bring more users to the Bitcoin ecosystem in the long run.
Bitcoin users shopping on Amazon.in can create a Purse account here. Purse also encourages people who haven’t purchased Bitcoin before to try Unocoin’s other services. Additionally, the firm said existing Purse users can receive a free .01 bitcoin for referring a friend, once that friend makes a $50 purchase.
Both Unocoin and Purse say their companies are growing, and both businesses said they want to “pay it forward” to Indian citizens by offering Bitcoin incentives.