Overstock to Launch New Rewards Scheme for Bitcoin Buyers
Online outlet store Overstock.com is to launch a special rewards program that will give bitcoin buyers 1% back in the form of Club O dollars, the company's in-house rewards points. Speaking to CoinDesk, Overstock CEO Patrick Byrne said the scheme is expected to debut in approximately four weeks, although he did not commit to a definitive timeline. The program will not provide an instant discount on orders, but will instead give 1% of the total purchase value back to buyers to be applied to future purchases. Byrne did not provide further details of how the program would work, or whether it....
Related News
Overstock.com, a major online retailer accepting bitcoin since January is planning to launch a rewards program for customers who pay in bitcoin. The plan is simple: offer customers who pay in the digital currency 1 percent back of their purchase price as 'Club O' points, which will allow the customer to apply the rewards toward a future purchase. In a statement to CoinDesk, Overstock.com CEO Patrick Byrne said the program is slated to make its debut in approximately four weeks. When I interviewed Patrick Byrne in November of last year, he told me that Overstock was looking to accept....
Article now includes comment from Overstock's Judd Bagley. Online retail giant Overstock has announced plans to offer its employees a bitcoin bonus scheme. Overstock representative Judd Bagley told Mashable that the company is "trying to figure out" how it can pay out bitcoin bonuses and aims to get the program in place by the end of the year. Under the scheme, Overstock employees will be incentivised to accept their bonuses in bitcoin by offering a premium over cash payments. Bagley told CoinDesk: "The first step will be to offer to pay employees their annual bonuses in bitcoin. Those....
The car manufacturer is trialing the new blockchain system, which offers customers tokenized loyalty points, before its potential rollout worldwide. Customers of the world-famous car manufacturer will soon be able to claim blockchain tokens as rewards as part of a new membership scheme, called BMW Vantage.The Korea Times reported on Oct. 7 that BMW Korea is the first branch in BMW Group to run a trial of the new scheme and aims to fully launch it in the country by the end of 2020. It successful, the company is planning a global rollout.The points-based rewards program uses blockchain....
Overstock.com, Inc., the e-commerce retailer, became the first company to solicit qualified institutional buyers in a digital corporate bond that will trade using the bitcoin block chain. This development is part of Overstock's larger cryptofinance initiative known as Medici. "The cryptorevolution has arrived on Wall Street," said Overstock.com CEO Patrick M. Byrne. "We're making it official by offering the world's first 'cryptosecurity.'". Byrne defined a cryptosecurity as a security that trades on a cryptographically-protected distributed ledger. Cryptosecurity buyers will be able to....
Overstock hopes to encourage bitcoin use with a range of incentives for vendors who decide to accept payments in the digital currency. Speaking in a podcast at the libertarian Porcupine Freedom Festival, Overstock CEO Patrick Byrne said, "We're going to start giving sort of special deals to the vendors who want to be paid in bitcoin." This could mean offering discounts and favourable terms to vendors selling through the Overstock platform if they start to accept bitcoin, he indicated, adding that the company may also reward those who already accept the digital currency. Notably, Byrne also....