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Shake Shack recently signed a deal with a fintech company called Block Inc., and soon it will be launching its bitcoin rewards program. The American casual fast-food chain announced that its cashback rewards would be handed out to customers in the form of cryptocurrency.
Under Shake Shack’s rewards program, customers can earn bitcoins if they will place their orders through the Cash App, a mobile payment service developed by Block, Inc. that was founded by the former Twitter chief executive officer, Jack Dorsey.
The bitcoin cashback is part of Shake Shack’s new promotion and will only be offered for a limited time. It will run until mid-March and was introduced in an effort to reach and attract younger customers.
The restaurant’s chief marketing officer, Jay Livingston, explained that the bitcoin rewards is also a sort of testing - to see if there is a big demand for a crypto payment system. Shake Shack tapped the Block to attain its goal of reaching the younger generations since Jack Dorsey’s company’s largest set of customers belongs to the Gen Z and the millennial age groups.
“You are always trying to place your bets on those things that truly will be meaningful and not waste resources on the ones that won’t,” Livingston told The Wall Street Journal. “If we just started taking crypto right now at our kiosk, it would have very low adoption but through something like Cash App, that has been promoting it, you will get some more people that want it and that also want to learn.”
Shake Shack is handing out the bitcoin crypto as a reward for eligible purchases made at the fast-food chain using the Cash App or paying via the Cash App’s debit card. It was mentioned that purchases through the said mobile payment service’s Cash Boost rewards program are also eligible for the cashback promo. Customers will get back 15% of the total cost of their order in the form of bitcoin.
It should be noted that while Shake Shack is offering bitcoin as a reward, it is currently not accepting cryptocurrencies as payment. Meanwhile, CNBC Make It reported that the burger joint’s crypto offering makes it the latest restaurant to dive into the crypto world. It has joined Burger King and McDonald’s that previously gave away NFTs or non-fungible tokens as part of their promotions.
