Overstockdotcom

Overstock to Launch New Rewards Scheme for Bitcoin Buyers

(CoinDesk) Online outlet store Overstock.com is to launch a special rewards program that will give Bitcoin buyers a 1 percent cashback 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 percent 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 will be able to be used in conjunction with other company rewards schemes.