Mode brings Bitcoin Cashback to 40+ UK retailers

RNS Number : 7162S

Mode Global Holdings PLC

18 November 2021

 

Mode Global Holdings PLC

("Mode" or "the Company" or "the Group")

Mode to bring Bitcoin Cashback to 40+ UK retailers to put Bitcoin into the hands of millions

● Mode to expand Bitcoin Cashback to 40+ retailers in Q2, 2022 including Ocado, Homebase and Boots

● Standalone affiliate Bitcoin Cashback product will enable UK shoppers to earn Bitcoin at participating online stores

● Additional retailers to be added in due course

Mode Global Holdings PLC ("LSE:MODE"), the LSE-listed Fintech Group, 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."

 End

About Mode:

Mode is an LSE-listed fintech company on a mission to build the world's most disruptive ecosystem where exchanging value and growing wealth is seamless for all. Mode is leveraging the power of Bitcoin and Open Banking to deliver on this mission and offer customers in the UK a one-stop app to shop, earn and grow their Bitcoin, all in one place. For businesses, Mode provides a cheaper, safer and smarter alternative to card payments that rewards shoppers with Bitcoin Cashback.

To learn more, visit our customer/business site at www.modeapp.com or our investor site at www.modeplc.com .

Ends

Contact

Maitland/AMO (PR): Alasdair Todd or Kate Pledger [e-mail]

 

END

 

 

MSCEALFXFLAFFFA