Consumers can earn cash back on their Nike purchases when paying with digital currency
Sooner or later, more companies from diverse industries will allow payments with cryptocurrencies as the technology keeps gaining ground and acceptance. The giant US footwear Nike is the most recent integration into the crypto space through a new partnership that will grant customers a 3% return on their online purchases made with digital currencies. The payments platform will be provided by the London-based financial and technology startup Plutus, which will offer rewards going back to the credit card of the users that shop at Nike’s online store.
According to information shared by a Plutus spokesperson to Cointelegraph, the only way to receive these rewards – 3% and 9% cash rewards – is by using the Plutus Visa Card while shopping online. Since the company has its operations in the United Kingdom and European Economic Area only, the service will be offered in euros and the British pound. The service is already available for purchase.
The rewards are generated in cryptocurrency, specifically in Plutus native digital token called Pluton (PLU), which is a decentralized loyalty token that runs on the Ethereum network. Besides the total of 12% in rewards offered to customers, Plutus users will have other rewards coming from staking their PLU tokens using the Plutus app, according to the firm. Right now, the token is trading at $1.75 and it has a total market capitalization of about $1.5 million.
“Plutus was approved as an affiliate partner for both Airbnb and Skyscanner at the start of the year, however, all programs in the travel category have been temporarily paused by the company due to travel restrictions caused by COVID-19. Both of these partners were included to offer cashback to qualified Plutus members,” said the founder and CEO of Plutus, Danial Daychopan.