Bitcoin (BTC) rewards company GoSats has launched a new cashback rewards card for its Indian customers.
The new product, which was launched in partnership with the National Payments Corporation of India (NPCI), could potentially set the stage for mainstream adoption of digital assets in the country.
NPCI is a non-profit organization dedicated to promoting digital payments and settlement systems across the country. It is under the direct ownership of the Reserve Bank of India.
The Bitcoin rewards card can be accessed through mobile app and browser extension and will allow users to enjoy cashback paid in BTC when shopping at major stores such as Amazon (NASDAQ:AMZN), Starbucks (NASDAQ:SBUX), and Flipkart.
Utmost precaution is being taken by both partners to avoid any regulatory infringements while launching the product.
The CEO and co-founder of GoSats Mohammed Roshan stated that the partnership puts his firm in the position to “offer users Bitcoin earning opportunities using NPCI’s existing card network,” adding that “beforehand, people could only get Bitcoin cashback on specific brands through our app but now can earn cashback in Bitcoin on every spend.”
GoSats has gained over 15,000 customers since it first launched six months ago, indicating the reserved interest for digital assets services in the country with a few calls to ban crypto in India, BTC PEERS reported.