Mode has signed an MoU with THG, a proprietary technology platform specialising in taking brands direct to consumers globally, which will see THG brands offering Mode as an additional payment option for customers.
Through this partnership, Mode will leverage Bitcoin and Open Banking to bring a payments and rewards experience to THG’s customers, supporting them to make instant payments, earn Bitcoin rewards, and receive personalised offers.
Over the coming months, Mode and THG will work together to integrate Mode’s payments solution into THG Ingenuity, the ecommerce platform that provides the end-to-end digital commerce experience for all THG merchants. Mode will be enabled on 30+ THG brands over the next 12 months, starting from the end of Q3 2021. THG brands include Myprotein, Lookfantastic and Thehut.com.
Customers opting to pay with Mode will need to scan a QR code or click the ‘Pay with Mode’ button at the checkout page and the payment will be processed instantly via the Mode app using their GBP funds, according to the official press release. Payments will be authorised in real time through biometric security and Strong Customer Authentication.
At the end of June 2021, Mode will release its payments feature in Public BETA, initially on Android, and will launch its own online merchandise store enabling Mode customers to be the first to experience instant and frictionless purchases and receive Bitcoin cashback, the press release adds.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now