Sep 26, 2016 at 14:06 // Business

Nina Lyon Author

Purse.io, an escrow service and an online Bitcoin marketplacе, in collaboration with Unocoin, India’s most popular Bitcoin wallet provider, recently announced a new discount program on Amazon for their Bitcoin users.

Users who buy Bitcoin on Unocoin can now get discounts of 15-22% while buying clothes, food, and electronics using Purse’s Name Your Discount program with Amazon.in.



According to official announcement:



“Purse takes advantage of unspent gift-card liquidity to provide you discounts at Amazon. We match you with individuals with illiquid giftcard balances, and they order your items at your proposed discount. In return, they receive bitcoin at the end of their transaction and they are then able to spend their money easily, or exchange their bitcoin for rupees on sites like Unocoin.”

To get started, a new user must first buy bitcoins on Unocoin. Then this user can sel ect the goods he wants to buy on Amazon and place it in the basket on the Purse.io website. Another person who wants to buy bitcoins can find this order, pay for it in fiat and in return receive bitcoins from the user, who has placed the order to buy good on Amazon.

This new offering also fits into rules imposed by India’s government in March 2016 that prohibit marketplaces from offering discounts and capping total sales originating fr om a group company or one vendor at 25%.