Nike, the footwear giant, has entered into a partnership with the London-based Fintech startup Plutus to offer its customers 3% cashback for crypto purchases.
Users can take advantage of this offer on online Nike stores using a Plutus Visa card, this would unlock an offer of 3% crypto cashback or up to 9% cash rewards.
— Plutus (@plutus) June 4, 2020
Plutus operates within the United Kingdom and European Economic Area and keeping the ease of use for customers, all the offers available through Plutus Visa card would be available for purchase in Euro and Pounds.
Plutus Aims To Bring Crypto to the Mainstream
Due to the ongoing coronavirus pandemic, most of the shops and business have been shut for months and, as a result, online shopping has become ever more popular. This Nike-Plutus partnership would help people spend crypto to buy their favorite sneakers online and also receive a cashback for the purchase.
This is not the first stint for Plutus with a mainstream popular brand as Nike. Prior to this partnership, the fintech startup worked with major air travel websites like Airbnb and Skyscanner to help people book the tickets for their favorite destination using crypto. Danial Daychopan, the founder and CEO of Plutus talking about their experience in these kinds of partnerships said:
“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.”
The crypto rewards would be generated on the Plutus native token Pluton (PLU) which leverages on the Ethereum network to run a decentralized loyalty token program. The Plutus app would also allow users to earn passive income by staking their PLU token apart from the twelve percent total awards available on offer.