Business
Mode partners with THG plc for payments launch
Mode partners with THG plc for payments launch.
About this update from R8 Capital Investments Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7135B\n Mode Global Holdings PLC\n 14 June 2021\n \n \n \n \n Mode partners with THG plc for payments launch\n \n \n \n \n \n ● \n 30+ THG brands will offer Mode as a payment option at their online checkout\n \n \n ● \n Major UK websites including Myprotein and Lookfantastic will begin to accept Mode in Q3 2021\n \n \n ● \n Customers in the UK can use Mode to pay at THG merchants and get rewarded in Bitcoin\n \n \n \n \n \n \n London, Monday June 14th, 2021 -\n \n Mode Global Holdings Plc (\"Mode\"), the LSE-listed fintech group, is proud to announce that it has signed an MoU with THG Plc (\"THG\"), the proprietary technology platform specialising in taking brands direct to consumers globally, which will see THG brands offering Mode as an additional payment option for customers.\n \n \n \n \n \n Through this partnership, Mode will leverage the power of Bitcoin and Open Banking to bring an innovative payments and rewards experience to THG's customers, enabling them to make instant payments, earn Bitcoin rewards, and receive personalised offers, all in one app. For THG merchants, Mode's mobile payments and loyalty solution can be a cheaper, safer and smarter alternative to card payments that caters to the needs of today's digitally-native, modern consumer. It also helps these customers unlock the value of their digital assets in the real world. \n \n \n \n \n \n Over the coming months, Mode and THG will work together to integrate Mode's payments solution into THG Ingenuity, the e-commerce platform that powers the end-to-end digital commerce experience for all THG merchants. Mode will be enabled on 30+ THG brands over the next 12 months, starting from the end of Q3 2021. THG brands include Myprotein, Lookfantastic and Thehut.com.\n \n \n \n \n \n Customers opting to pay with Mode will simply need to scan a QR code or click the \"Pay with Mode\" button at the checkout page and the payment will be processed instantly via the Mode app using their GBP funds. Payments will be authorised in real time through biometric security and Strong Customer Authentication. Customers will be rewarded in Bitcoin for eligible purchases, making it an attractive proposition for consumers looking to own cryptocurrencies without the risk of investing.\n \n \n \n \n \n At the end of J...