{"id":141968,"date":"2021-10-16T16:09:27","date_gmt":"2021-10-16T16:09:27","guid":{"rendered":"https:\/\/precoinnews.com\/?p=141968"},"modified":"2021-10-16T16:09:27","modified_gmt":"2021-10-16T16:09:27","slug":"mode-partners-with-thg-brands-to-offer-bitcoin-cashback-rewards-to-uk-customers","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/mode-partners-with-thg-brands-to-offer-bitcoin-cashback-rewards-to-uk-customers\/","title":{"rendered":"Mode Partners With THG Brands To Offer Bitcoin Cashback Rewards to UK Customers"},"content":{"rendered":"<p>FinTech group Mode Global Holdings PLC (\u201cMode\u201d) has partnered with e-commerce company THG PLC (aka \u201cThe Hut Group\u201d) to launch its Open Banking payments and Bitcoin rewards solution.<\/p>\n<p>Mode offers two main products:<\/p>\n<ul>\n<li>For consumers, it offers the very popular Mode app, which allows them to (1) makes it easy to buy\/hold Bitcoin; (2) send Bitcoin (free to other Mode users); (3) use their GBP balance to pay for goods\/services and receive cashback paid in Bitcoin on select purchases.<\/li>\n<li>For businesses, it offers an Open Banking payments and loyalty platform that helps them to avoid high debit\/credit card processing fees and to boost customer loyalty.<\/li>\n<\/ul>\n<p>THG, which is also listed on the London Stock Exchange, is \u201ca globally renowned end-to-end tech platform\u00a0specialising\u00a0in taking brands direct to consumers worldwide\u201d that is powered by its propriety technology platform THG Ingenuity.\u00a0<\/p>\n<p>According to a press release issued on October 12, although Mode\u2019s integration into THG was \u201coriginally scheduled for roll-out over the course of 12 months starting from the end of Q3 2021,\u201d this \u201chas been heavily accelerated and Mode can now be found on all 30+ THG brands at checkout, months ahead of schedule.\u201d Examples of THG brands include Lookfantastic, Myprotein, and The-Hut.com.<\/p>\n<p>The press release went on to say that \u201ccustomers will be given the opportunity to build up a holding in Bitcoin through Mode\u2019s cardless QR code based payments method that allows shoppers to make instant payments and rewards them with Bitcoin Cashback \u2013 immediately after purchase \u2013 via the Mode app.\u201d This solution \u201ccounters traditional loyalty and cashback programmes, which often entail rewards that are hard to withdraw or slow to redeem.\u201d<\/p>\n<p>Also, Mode has launched \u201ca checkout feature for shoppers who do not have the app.\u201d This \u201cleverages Open Banking technology to allow them to also make seamless payments via their bank account, and earn instant Bitcoin Cashback at THG brands.\u201d THG shoppers using Mode for the first time will receive 10% Bitcoin Cashback while existing customers will \u201creceive 5% for new and repeat purchases.\u201d <\/p>\n<p>As for THG merchants, \u201cMode\u2019s payments and loyalty solution can be a cheaper, safer and smarter alternative to card payments that caters to the needs of today\u2019s digitally-native consumers, and boosts loyalty by enabling these customers to passively accrue Bitcoin over time.\u201d<\/p>\n<p>Ryan Moore, CEO of Mode, had this to say: <\/p>\n<p>\u201c<em>We\u2019re delighted to bring about the next generation of retail payments and loyalty, in partnership with THG\u2019s globally renowned tech platform, THG Ingenuity. Consumers can pay via Mode, and accrue instant Bitcoin rewards which they can safely store via our trusted, FCA registered app. <\/em><\/p>\n<p>\u201c<em>This marks a step forward in delivering on our aim to make Bitcoin accessible to all and put it in the hands of as many people as possible. Those who pay via Mode will gain passive exposure to the revolutionary store of value asset without taking on the individual risk of investing, which we anticipate will significantly widen our market to reach those who are new to Bitcoin.<\/em>\u201c<\/p>\n<h2>Disclaimer<\/h2>\n<p><em>The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.<\/em><\/p>\n<h2>Image Credit<\/h2>\n<p><em>Image by\u00a0Gerd Altmann\u00a0from\u00a0Pixabay<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cryptoglobe.com\/latest\/2021\/10\/mode-partners-with-thg-brands-to-offer-bitcoin-cashback-rewards-to-uk-customers\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FinTech group Mode Global Holdings PLC (\u201cMode\u201d)<\/p>\n","protected":false},"author":3,"featured_media":141967,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mode Partners With THG Brands To Offer Bitcoin Cashback Rewards to UK Customers - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/bitcoin\/mode-partners-with-thg-brands-to-offer-bitcoin-cashback-rewards-to-uk-customers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mode Partners With THG Brands To Offer Bitcoin Cashback Rewards to UK Customers - 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