Another week, another update.
First off, two more people made a purchase with their Fold Card and won 1 bitcoin!
While there is no shortage of bugs and features to be built, it appears the vast majority of our Early Access group is depositing, spending, spinning and most importantly — stacking sats!
We’ve seen a massive uptick in deposits over the last week as lengthy bank transfers settle and critical bugs are fixed. Thank you all for being very vocal about your experiences and letting us know about any issues you encounter or ideas that you come up with.
Here’s a few updates:
- Fold Store: Check out store.foldapp.com! We’re launching great swag just in time for the holidays. Stack sats when you grab some swag.
- New Funding Options: We’re finalizing our first new funding method: In-App ACH Transfers via Plaid. This will allow most users to initiate bank transfers from within the Fold app making it easier and faster to connect Fold with your primary bank accounts. We expect this feature to land next week as we’re currently testing it in staging. Next up: Instant Funding via Debit Card.
- Funding Challenges: We’ve made major progress on identifying the underlying issues that have caused some bank transfers to fail. Good news is that we’re actively working with our bank and a handful of other banks to ship a fix to this.
- Apple/Google Pay: We’re live! This means you can use your Fold Card for in-store transactions and get rewarded everywhere Apple and Google Pay are accepted. Let us know about your experiences.
- Physical Card Delivery: Be on the lookout today (Friday). You will be asked to verify your shipping address which will trigger your card shipment in 5–10 business days.
- ACH Rewards: We’re hoping to ship ACH rewards by end of the month if all goes well.
- Spin Wheel Rewards: We’re still taking feedback on how to deal with missed spins and incentive larger purchases. We’re narrowing in on a solution to this, but continue to let us know what you think. Also, we’ve heard you loud and clear — we’re removing the 25% of Fold Store wedge next week.
- Spin Wheel Information: We are working hard to add more info regarding the weekly spinwheel updates on our site. But, thanks to our community for taking the lead while we’re focused elsewhere. Shout out @TheRealSteezy for creating and http://spinwheelupdates.com for educating us all!
- Gift Cards: After seeing a few weeks of gift card and spin wheel purchasing we need to revise a few brands to make them economically viable. The decision came down to either removing the spin wheel for some gift card purchases or slightly lowering (0.5%-1%) a few brands to make the numbers work. We would love your feedback here!
Here’s what we would like from you:
- Next week we will begin onboarding another large segment of users (several thousand!)
- Keep testing and let us know what you find!
- Remember the early access code of conduct. We are all in this together.
- Give us ideas for what kinds of prizes you want to see on the wheel. The wheel will change frequently. What do you want to win?
- Please respond to our survey that is on your Fold Card tab in the app. We want to hear from you!
