London-listed fintech group Mode has been forced to back pedal on claims it would provide cashback in bitcoin to shoppers at retailers, including Boots, Homebase and Ocado, after the companies denied their involvement.
Jonathan Rowland, chair of Mode, said on Twitter: “We are comfortable with what we released [on Thursday] because it was accurate. Some brands don’t want to be associated to crypto despite approving us through the affiliate process. We can’t control that unfortunately.” Mode was founded by Rowland six years ago to “embrace the power of game-changing innovations”, including bitcoin. The son of former Conservative party treasurer David “Spotty” Rowland, his company offers a bitcoin investment platform as well as payment services for merchants. It listed in London last October.