Mode expands Bitcoin Cashback offering to 40+ merchants
Mode will be expanding its Bitcoin Cashback offering to 40+ merchants in Q2 2022, as part of a standalone affiliate product. Retailers at launch will include Ocado, Homebase, and Boots enabling millions of customers in the UK to earn Bitcoin with everyday purchases.
Mode’s Bitcoin Cashback counters traditional loyalty and cashback programmes, which can offer rewards that are hard to withdraw, slow to redeem or irrelevant to the customer. In response, Mode is turning legacy rewards schemes on their head by providing customers in the UK with the opportunity to build a stake in Bitcoin, without taking on the risk of investing.
Customers will be able to browse Cashback offers at participating retailers on the Mode app, before going to the selected retailer’s website to complete their purchase. The Bitcoin will be credited into the customer’s Mode account, where they can store the asset or take advantage of the Company’s FCA registered exchange to grow their Bitcoin.
The expansion of Mode’s Bitcoin Cashback offering is the next step in the company’s strategy to develop a next-generation loyalty scheme that offers relevant rewards with real value to consumers. The programme will also enable retailers to boost loyalty amongst higher value demographics.
Ryan Moore, CEO of Mode, commented: “I am delighted to announce the development of our Bitcoin Cashback offering as a standalone product, following the fantastic response from our customers, and accelerating appetite for the cryptocurrency. This marks a major step in making the asset class more accessible to consumers of all demographics, ultimately bringing Bitcoin into the hands of millions of customers across the UK.”
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