Bitcoin cashback offered to millions of people in UK through crypto loyalty program Ocado and Homebase

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Dozens of leading UK retailers are planning to offer customers cash back bitcoin from next year through a new loyalty program.

The Bitcoin cashback option will be powered by fintech company Mode, according to City AM, and will allow customers to earn up to 10% crypto rewards for their online purchases at partner stores.

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“I am delighted to announce the development of our Bitcoin Cashback offering as a standalone product, following the fantastic response from our customers and the increased appetite for cryptocurrency,” said Ryan Moore, CEO of Fashion.

“This marks a major step in making the asset class more accessible to consumers of all demographics, ultimately putting bitcoin in the hands of millions of customers across the UK.”

The price of Bitcoin has more than doubled since the start of the year and is currently trading at around $ 60,000 (£ 51,000).

Boots and Ocado were originally named among the retailers in an early press release, which also named Homebase, but the companies have since apparently moved away from the company.

The beauty and drugstore giant has also distanced itself from a similar cashback program put in place last year by crypto platform CoinCorner.

“We just lost Boots as a bitcoin cashback partner following the announcement of the Mode app,” said Molly Spiers, chief marketing officer at CoinCorner.

“CoinCorner has partnered with Boots for over a year without any issues – they are one of our most popular merchants. Why do we still place blanket bans on bitcoin companies? “

Ms Spiers shared an email she said was from Boots, saying that he “does not currently want to work with bitcoin publishers”, adding: “If anything changes in the future, we will invite you to new to the program “.

Boots did not immediately respond to a request for comment from The Independent.

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