Nike, a popular footwear company of US origin is making clients happier this season by rewarding them with 3% of crypto they spend in purchasing their goods.
Plutus, a FinTech company based in London has partnered with Nike so that clients can pay for shoes and other items with credit cards issued by Plutus. By agreeing to accept the credit card and shopping with it on Nike’s website, a buyer can get 3% crypto and 9% cash back.
Commission is paid for British pounds and Euros transactions only
To qualify for the rewards, the buyer must pay with the Plutus Visa Card. Since Plutus operates in the UK and Europe, Nike customers in these areas can pay with british pounds and euro.
The rewards are based on Plutu’s native token known as Pluton (PLU). Pluton is supported by Ethereum. A buyer can choose to stake his rewards in PLU for more gains in the long term. Pluton’s price is now about $1.75 and its market cap is around $1.5 million.
Plutus partners with Airbnb and Skyscanner
Although Plutus’s efforts are profit-driven, their impact in making cryptocurrencies more relevant in everyday life will be felt. Apart from Nike, they have also partnered with Airbnb and Skyscanner travel websites for some months now. Things are a bit slower on the travel sites because of the coronavirus lock down measures enforced by many countries.
The CEO and founder of Plutus, Danial Daychopan, had this to say:
“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 cash back to qualified Plutus members.”
Nike’s interest in cryptocurrencies did not start today. Towards the end of 2019, they converted one of their products (Cryptokicks) to tokens supported by Ethereum. They were also part of the blockchain-based supply chain which was pioneered by Alabama’s Auburn University