Mode formally signs contract with THG for payments launch

LONDON, UK: Mode Global Holdings Plc has now formally signed with THG Plc, the proprietary technology platform specialising in taking brands direct to consumers globally.

This follows the Memorandum of Understanding (MOU) that was previously announced on June 14.

Mode will be available to use when paying at THG brands starting from the end of Q3 2021, enabling shoppers to make instant payments using QR codes or the “Pay with Mode” button and earn Bitcoin rewards.

Ryan Moore, CEO of Mode, said: “We’re pleased to announce that we have now officially signed with THG, embarking on an exciting new partnership. Our innovative payments system provides additional choice to customers, which helps to bring cost savings and increase payment efficiency. The Mode team are now busy at work onboarding THG’s brands onto our payments platform; there are exciting times ahead and we look forward to welcoming THG’s customers.”

THG is a vertically-integrated digital-first consumer brands group, retailing its own brands, in beauty and nutrition plus third-party brands, via its proprietary technology platform to an online and global customer base. THG is powered by THG Ingenuity, its proprietary end-to-end e-commerce technology, infrastructure and brand building platform.

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 people a one-stop app for growing wealth and spending smarter, as well as provide businesses with a cheaper, safer and smarter way of accepting payments than card payments and boosting loyalty amongst customers.

Mode Global Holdings PLC share price

42.71 GBX−0.79 (1.82%)today

7 Jul, 4:38 pm GMT+1 ·Disclaimer

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