The promotion returns 15% in BTC to customers who pay with the Cash App. Shake Shack said it is using the initiative to evaluate the possibility of adding cryptocurrency to its payment methods.
A renowned fast food chain in the United States is giving away Bitcoin to his clients.
popular hamburger restaurants shake shackhave started offering rewards in the main cryptocurrency to people who pay for their purchases through CashAppthe digital wallet of block (before Square).
The crypto-rewards are part of a new chain promotion that gives customers back 15% of any purchase made in the form of Bitcoin. The promotion applies when customers pay with CashCarddebit card CashAppas well as when purchasing items through Cash Boosta rewards program available to Cash Card Members.
Users can access the promotion through the application CashAppin the program Cash Boost and in the tab CashCardAs reported Wall Street Journal. The rewards program will be available until mid-March.
An experiment to test payments with Bitcoin
According to the report, shake shack is testing whether it can reach younger consumers in CashApp while evaluating whether customers are interested in more cryptocurrency options, executives at the burger chain said.
Jay Livingston, director of marketing from shake shack, explained that one of the angles of the initiative is to determine if there is enough demand for the chain to implement payments with cryptocurrencies. Livingston told Wall Street Journal that, so far, the company has not seen too much interest in crypto payments from customers, so the campaign will be “useful experiment”
You’re always trying to place your bets on things that will really be significant and not waste resources on things that won’t.
The chain’s representative also pointed out that the familiarity of the users of block with cryptocurrencies was what motivated the company to work with said platform to carry out the promotion. block began to offer Bitcoin through CashApp in 2018, and since then the business has grown substantially. A large part of the application’s users are groups of the younger generations, between generation Z and millennials, according to the company’s financial director, Amrita Ahuja.
“If we started taking crypto right now at our kiosk it would have very low adoptionLivingston said. “But through someone like Cash App, who has been promoting it, you will get more people who want it and also want to learn.”.
Food chains show interest in cryptocurrencies
The first foray of shake shack in the cryptocurrency space could be an indication of increased interest in diving into the burgeoning sector. A growing group of stores and restaurants have been looking to enter the world of digital assets.
The Burger Giant Burger King launched a similar rewards program in November last year with Robin Hood. At that time, the promotion offered customers prizes in Bitcoin, Ether and Dogecoin for purchases from USD $5. The headquarters of Burger King in Germany and Venezuela had earlier adopted crypto payments while other chains such as Muscle Makerdedicated to healthy food, have also added Bitcoin to your payment methods.
shake shackwhich started in 2001 as a hot dog cart in New York, has grown into a major fast food business in the US according to CoinDeskthe burger chain posted total revenue of $739.9 million in 2021, up 41.5% from the previous year, and currently has more than 240 locations in the US and more than 125 internationally.
Article by Hannah Estefanía Pérez / DailyBitcoin
Unsplash image edited in Canva
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