Boots and Ocado slam Mode Bitcoin cash back announcement
Boots and Ocado have distanced themselves from a Mode press release involving a scheme that offers customers cash back in Bitcoin.
Last week, UK-based FinTech Mode said it was teaming up with over 40 merchants, including Ocado, Homebase and Boots.
Its initiative, which is presently live with THG and L.K. Bennett, offers a percentage of a purchase’s value back in Bitcoin (presently between 5% - 10%).
According to a press release, customers will be able to browse cashback offers on the Mode app before going to the selected retailer’s website to buy items.
The Bitcoin will be credited into their Mode account, where they can store the asset or tap the company’s FCA registered exchange in a bid to grow their Bitcoin.
Ryan Moore, CEO at 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.”
However, a spokesperson for Boots told RTIH: “We are not involved with this scheme. We have not been directly approached by Mode and they have used our name without permission in their press release and marketing materials.”
And an Ocado spokesperson said: “We have never had any direct affiliation with Mode, nor any involvement with their announcement from 18th November 2021.”
Homebase, meanwhile, did not respond to our request for comment.
And we await a response from Mode. We will update this article when their PR people get back to us.
