Two competing credit card companies, Max and Isracard, recently announced that their cardholders will now have the option to purchase Bitcoin and earn Bitcoin rewards with every purchase.
The Israeli-based credit card companies will allow certain Bitcoin incentives to cardholders, which will include a cashback option, according to local Isareli news outlet, Calcalist.
MAX’s partnership with Bits of Gold will allow the company to offer a 0.625% cashback reward in the form of Bitcoin for certain transactions. The cashback option cannot be redeemed unless cardholders have an eligible card issued to them.
In addition, MAX has a clearing agreement with Bits of Gold to allow customers to purchase digital assets with any of their Israeli credit cards.
MAX currently stands as one of the largest credit card processors in Israel with 1.6 million cards issued to date.
Isracard is also one of the largest credit card companies in Israel. The company offers clearing services to brands like American Express, Mastercard, and Visa. Furthermore, it will be partnering with Horizon from Altshuler Shaham, which will allow cardholders to purchase Bitcoin through the clearinghouse using their issued credit cards.
Altshuler Shaham announced earlier this year that eligible investors were able to purchase digital assets through their platform. Since then, it has rolled out the new service to the public.
Horizon CEO Ilan Stark recently stated:
As the leading crypto company in the country, we are proud to launch this innovative collaboration, which will allow the general public to join the digital currency arena … If in the past this field belonged to the exotic part of the capital market, today we see more and more interest from investors and customers.
The announcements from these two companies continue a growing trend of Bitcoin adoption across the globe.