Latin America Retailer MercadoLibre launches bitcoin rewards program
Latin America Retailer MercadoLibre launches bitcoin rewards program
One of Latin America’s top eCommerce retailers is taking a novel approach to its loyalty program. Retailer MercadoLibre launched a new cryptocurrency called MercadoCoin that will have multiple functions to draw customers back to the page.
Funded by Ethereum’s ERC-20 token standard, MercadoLibre customers can use MercadoCoin to purchase products on their platform.
The Organization is receiving pressure from companies like Sea Ltd and AliExpress for their piece of the Brazilian eCommerce market share. This looks like their board is thinking outside of the box to keep their base interested. We Will monitor things to see how this plays out through the holiday season.
Today, the coin is available for 500,000 customers, but it’s expected to roll out to the other 80 million by the end of the month.
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