Business
Mode payments and Bitcoin rewards live with THG
Mode payments and Bitcoin rewards live with THG.
About this update from R8 Capital Investments Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7217O\n Mode Global Holdings PLC\n 12 October 2021\n \n \n \n \n Mode now live with THG, putting Bitcoin in the hands of millions of UK customers\n \n \n - Mode rolls out first-of-its-kind payments and Bitcoin rewards solution with THG\n - All 30+ THG-owned brands have Mode listed as a payments option at checkout, ahead of schedule\n - Through Mode's Bitcoin rewards solution, Mode aims to put Bitcoin in the hands of millions of customers in the UK\n \n \n London, 12 October 2021 - Mode Global Holdings Plc (\"Mode\"), the LSE-listed fintech group, has launched its revolutionary Open Banking payments and Bitcoin rewards solution with THG Plc (\"THG\"), the proprietary technology platform specialising in taking brands direct to consumers globally.\n \n Originally scheduled for roll-out over the course of 12 months starting from the end of Q3 2021, Mode's integration into THG has been heavily accelerated and Mode can now be found on all 30+ THG brands at checkout, months ahead of schedule. THG brands include Lookfantastic, Myprotein and The-Hut.com.\n \n UK customers will be given the opportunity to build up a holding in Bitcoin through Mode's cardless QR code based payments method that allows shoppers to make instant payments and rewards them with Bitcoin Cashback - immediately after purchase - via the Mode app. The solution counters traditional loyalty and cashback programmes, which often entail rewards that are hard to withdraw or slow to redeem.\n \n Mode, a first-of-its-kind in the UK, has also launched a checkout feature for shoppers who do not have the app, which leverages Open Banking technology to allow them to also make seamless payments via their bank account, and earn instant Bitcoin Cashback at THG brands. THG shoppers checking out with Mode for the first time will receive 10% Bitcoin Cashback. Existing customers will receive 5% for new and repeat purchases. T&Cs apply.\n \n For THG merchants, Mode's 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 consumers, and boosts loyalty by enabling these customers to passively accrue Bitcoin over time.\n \n \n Ryan Moore, CEO of Mode, said: \"We're delighted to bring about the next generat...