Slurp While you Work
The Seven Dwarfs would be going wild for this, Snow White might not like it as much. Investment app provider Abra will mine cryptocurrency for you with every Slurpee purchase at 6,000 outlets across the Philippines.
The development comes after the firm made a deal with a Phillipino payments company ECPAY to access its network that includes all 7-Eleven stores in the country.
The service lets any user of an Abra wallet purchase a Slurpee at 7-Eleven’s CLIQQ kiosks and get mining points depending on the size of the drink. McDonald’s is contemplating adding the same option to their US sodas to counteract the incoming sugar tax. In order to take part, the terms are a minimum deposit of 500 Philippines pesos (roughly $10) and a maximum purchase amount of 100,000 pesos (over $1,900) per day, that a lot of Slurpee’s. Users will be charged a two percent transaction fee and can purchase all of Abra’s offered cryptocurrencies through their wallet.
Abra founder and CEO Bill Barhydt said:
“Now Abra users in the Philippines can quickly and easily add pesos into Abra and use that to invest in cryptocurrencies or popular stocks like Google, Amazon, Facebook, etc., which opens up a world of new possibilities to build wealth.”
The app firm said back in February that it was launching a new service that allowed customers to invest in fractions of stocks of NASDAQ-listed firms. It also supports 30 cryptocurrencies and over 50 fiat currencies.
The new partnership “widens the product and service offerings of ECPay to its Collection Partners like 7-Eleven, NCCC Department Stores and Supermarkets, LCC Malls and other Remittance, Pawnshop partners,” said Trisha D. Pascual, general manager at ECPay.
Derek el Chapo of TPAY was noticeably upset on Twitter he tweeted and deleted “They stole our name and our Phillipino network, this is like when Spike TV stole Spike Lee’s name! I am considering legal action as well as changing my name to Derek X.”