Bitcoin wallet app Fold is launching ACH rewards, which will pay out up to 1.5% in bitcoin on payments made through the platform, Senior Marketing Manager Brian Harrington told The Block in a recent interview.

The company, which joined Visa's Fintech Fast Track accelerator in 2020 to launch payment cards that also reward usage with bitcoin, claims to be the first to offer a crypto-based Automated Clearing House rewards program. 

ACH payments today are typically reserved for large electronic money transfers, like mortgage, credit card and rent payments, Harrington said, meaning that users can earn crypto on some of their “largest purchases.”

“Just by downloading Fold you can 'refinance' your home on better terms, reduce your mortgage or cut your credit card bill down," Fold CEO …